Deals
Quebec Vows to Protect 10 ‘Strategic’ Companies From Takeovers
- Provincial investment arm is ready to act: economy minister
- Premier Legault says SNC-Lavalin is vulnerable to hostile bid
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Quebec’s new government is committed to protecting local companies such as SNC-Lavalin Group Inc. from hostile offers from foreign bidders and has drawn up a list of 10 “strategic” firms worth preserving.
“The government of Quebec has to figure out what head offices are strategically important,’’ Economy Minister Pierre Fitzgibbon said Thursday in an interview in Montreal. “There is a scale of 1 to 10. Can we intervene for all head offices? No. If we had to buy 20 percent of all Quebec companies that are publicly traded, we would go bankrupt. So we have to be intelligent.’’