Deal Blocked By Canada: A New Tough Stance?

Law360, New York (May 12, 2008, 12:00 AM EDT) -- On May 9, 2008, the Canadian Minister of Industry publicly confirmed his rejection of the proposed CDN$1.325 billion sale of MacDonald, Dettwiler and Associates Ltd.’s (MDA) Information Systems and Geospatial Service Operations division to U.S.-based Alliant Techsystems Inc. (ATK), with the result that the parties are now prohibited from proceeding with the deal.

The Minister rejected the sale because he is not satisfied that the investment is “likely to be of net benefit to Canada” as required under the Investment Canada Act (ICA).

This is the...
To view the full article, register now.