Canada’s Clement in favor of Investment Act review

OTTAWA (BestGrowthStock) – Canada’s industry minister said on Thursday he was in favor of reviewing the Investment Canada Act to make sure it suited the needs of the country after he rejected BHP Billiton’s bid to buy Potash Corp.

Minister Tony Clement also said there will be an opportunity for BHP to sit down with Industry Canada if it so chooses.

The Canadian government blocked BHP’s bid on Wednesday to buy Potash Corp, the world’s biggest producer of a key crop nutrient, halting what would have been the world’s biggest takeover attempt this year and sending Potash Corp shares tumbling.

(Reporting by Louise Egan; writing by Pav Jordan; editing by Jeffrey Hodgson)

Canada’s Clement in favor of Investment Act review