New rules may make it easier for Canadian companies to be bought

OTTAWA – A month after the government announced plans to overhaul Canada's foreign investment review process, it is also making rule changes that could make it easier for Canadian companies to be taken over by foreign corporations. The government said Friday that in order to ensure that the review process focuses on “the most significant transactions”, the new regulations will gradually raise the review threshold from $330 million in asset value to $1 billion in enterprise value over four years. But that means that only the largest foreign acquisitions will be subject to government scrutiny. Industry Minister Christian Paradis described foreign investment as “vital...