Comprehensive Review of the Investment Canada Act Desperately Needed
If you鈥檙e confused about Canada鈥檚 rules with respect to foreign takeovers of Canadian companies, you鈥檙e not alone. The recent decisions by the federal government to approve the takeovers of Nexen by China鈥檚 state-owned-enterprise (SOE) CNOOC and of Progress Energy by Malaysia鈥檚 SOE Petronas while disallowing the takeover of Potash Corp. by the privately-owned Australian mining company BHP Billiton, is, at a minimum, confusing.