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Canadian Investing / Canada (General)
|Subject: Ottawa to rule on foreign takeovers||Date: 12/7/2012 11:08 AM|
|Author: tim443||Number: 63105 of 64061|
This is probably one of the most important issues for the Canuck energy patch in many a year? We absolutely need foreign investments however subjecting domestic companies to competition from foreign government controlled companies has issues?
I seem to recall that Alberta went a bit nutty about even the suggestion of our own government getting directly involved, how will they feel about foreign governments?
Ottawa ready to rule on foreign takeovers
Shawn McCarthy and Nathan Vanderklippe, The Globe and Mail
9:30 PM, E.T. | December 6, 2012
Energy & Resources
After more than four months of deliberation, Prime Minister Stephen Harper is poised to release decisions on two controversial foreign takeovers in the oil industry that will set the tone for Canada’s relationship with fast-growing Asian economies.
Many investors and political observers expect Mr. Harper’s government to approve the proposed $15.1-billion takeover of Calgary’s Nexen Inc. by Chinese state-owned enterprise CNOOC Ltd., as well as Malaysian-based Petronas’ $6-billion bid for Progress Energy Resources Corp.
At the same time, Ottawa will release new foreign-investment guidelines that will signal to Asian governments and their state-owned enterprises the extent of Canada’s appetite for further takeovers in key sectors.
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