While this is a good move, it should never have taken so much pressure for this action to be taken.
Under relentless pressure from the Conservatives who were looking out for Canada’s national interests, the Trudeau government will subject China’s attempted takeover of Canadian construction giant Aecon to a national security review.
As reported by BNN, “Aecon Group. Inc. has extended the timeline of its proposed takeover by a Chinese buyer, saying Prime Minister Justin Trudeau’s cabinet is reviewing the deal on national security grounds.”
The Chinese firm seeking to buy Aecon (CCCC), is majority-controlled by the Chinese Communist Party, which has raised serious concerns.
After all, Aecon is one of Canada’s oldest and most prominent firms, having been involved in countless projects across our nation – including the Halifax Shipyards and the CN Tower.
Letting the Chinese Communist Party take over such an important Canadian company has alarmed many, who are worried by the trend of our nation being taken away from us piece by piece.
While the decision to put the deal under a national security is good, it should never have even gotten this far. The Trudeau government should have rejected the deal as soon as it was proposed, and the federal government needs to be doing far more to protect Canadian ownership – including imposing tough restrictions on foreign ownership.
Unfortunately, the Trudeau government has already taken a step towards approving the deal, as the competition bureau earlier ruled that it could proceed.
Additionally, the fact that it took relentless pressure from the Conservatives before the deal was subjected to a review shows that the Trudeau government was hoping the deal could be pushed through quietly.
The review will be conducted by the Trudeau government cabinet, who have already shown themselves far too willing to let China take Canadian companies. As a result, it remains to be seen whether a real review will really take place, or whether this is just a chance for the government to pretend they looked into the sale before approving it anyway.