Quote:
Originally Posted by mykalberta
I think its bad precedence for any resource company looking to cash out from a takeover. Cons had to do it, once every political party showed their hand you could see this coming.
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There's already been precedent for this previously with other non-resource companies. Past governments including the liberals have blocked the sales of other major corporations. Remember when Onex was trying to buy both Air Canada and Canadian airlines, some Quebec MPs complained and others complained it would be bad for the consumer with less competition. That sale got blocked pretty fast too and Air Canada ended up taking over Canadian. Bad for Calgarians in the end as Air Canada laid off thousands of Canadian airlines staff and moved lots of jobs to Quebec and outsourced to Brazil.
All these decisions are politically motivated. Though I'll support the decision for now until I read up more on this.