The Canadian government promised on Friday to make its reviews of foreign takeovers more transparent, allowing it to explain when it has concerns about a proposed investment and perhaps even saying why.
A government statement said Canada will change the way it reviews foreign investments, a nod to those who have complained about opaque rules that allow the government to block takeovers that it does not think will provide a "net benefit" to Canada.
"The amendments would allow the minister (of industry) to disclose publicly the fact that he has sent a preliminary notice to an investor that he is not satisfied that the investment is likely to be of net benefit to Canada," the statement said.
"They would also allow the minister to publicly explain his reasons for sending the notice as long as it would not cause harm to the Canadian business or the investor." Read more here...
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