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Harper to raise threshold for foreign investment review to $1 billion

The National Post reports this morning that, “The Harper government is proposing to relax its oversight of foreign takeovers…”

$312 MILLION THRESHOLD TO BE RAISED TO $1 BILLION “Under amendments to the Investment Canada Act contained in the budget bill, the Conservatives have proposed raising the threshold under which foreign takeovers by companies from WTO-member countries come under review to $1-billion in enterprise value. The current threshold is $312-million in asset value.”

RECOMMENDATION OF THE COMPETITIVENESS PANEL “In raising the review limit, the government is following recommendations made last June by a panel, chaired by former BCE chairman Lynton ‘Red’ Wilson, that reviewed Canada’s foreign-investment and competition regimes. The government has also followed the panel’s recommendation to insert a provision into the law that would allow the minister to reject foreign takeovers if they present a threat to ‘national security.'”

The full article is at http://www2.canada.com/business/canada+puts+squeeze+science/1370278/story.html?id=1374985