Ottawa's new hard line: Blocking foreign acquisitions

Yesterday, the Harper government demonstrated that it was prepared to play protectionist hardball by confirming a Globe and Mail report that Industry Canada has rejected a $1.3-billion takeover of British ...

.....Scott Hand, the chief executive officer of Inco until it was acquired in 2006 by Brazil's Companhia Vale do Rio Doce, said Ottawa's willingness to shield strategic industries is overdue.

Mr. Hand urged Mr. Harper's government on a number of occasions to help speed its planned acquisition of Canadian rival Falconbridge, but regulatory delays in Europe allowed CVRD and Europe's Xstrata PLC to wade in with winning bids.

[Sleibhin]

Good to see that somebody woke up but in some ways it is like closing the "barn doors" after the "prized stallions" were spirited away.