Aecon Chinese takeover bid is latest to be blocked by federal government
TORONTO — The federal government’s decision Wednesday to block the $1.5-billion acquisition of Aecon Group Inc. by a Chinese state-owned company over matters of national security makes it the latest takeover deal quashed after reviews under the Investment Canada Act.
Such reviews target investments made by foreign companies trying to acquire control of Canadian businesses and allow the federal government to stop deals it deems “injurious to national security.”
Here’s how a few recent takeover attempts fared when facing a government analysis:
2018: REJECTED: Aecon Group Inc.