Industry Canada

Industry Canada

May 09, 2008 00:59 ET

Minister of Industry Confirms Initial Decision on Proposed Sale of Macdonald, Dettwiler and Associates Ltd. to Alliant Techsystems Inc.

OTTAWA, ONTARIO--(Marketwire - May 9, 2008) - The Honourable Jim Prentice, Minister of Industry, today wrote to Alliant Techsystems Inc. (ATK), pursuant to paragraph 23(3)(b) of the Investment Canada Act, to confirm that he is not satisfied that its application to acquire control of the Information Systems Business of MacDonald, Dettwiler and Associates Ltd. (MDA) is likely to be of net benefit to Canada.

"I have confirmed my initial decision that I am not satisfied that ATK's proposed acquisition of the Information Systems Business of MDA would likely be of net benefit to Canada. I reached this decision after an extensive and rigorous review process," said Minister Prentice. "Foreign investment plays an important role in the Canadian economy. Foreign investors bring with them capital, knowledge, capabilities and technology that can increase the productivity, efficiency and competitiveness of Canadian firms. However, where a significant transaction does not demonstrate net benefit to Canada, it cannot be approved under the Investment Canada Act."

Based on this decision, ATK cannot implement its proposed acquisition of the Information Systems Business of MDA.

Contact Information

  • Office of the Honourable Jim Prentice
    Minister of Industry
    Bill Rodgers
    Director of Communications
    613-995-9001
    or
    Industry Canada
    Media Relations
    613-943-2502