RE:RE:RE:RE:RE:RE:RE:RE:RE:Restrictive M&A Activity for Big Canadian Metals Companies? It's not just China or other nations of concern re. Canadian national security that the new directive applies to. Any company headquartered in another country will have to undergo the same Fed assessment to determine if it is in Canada's best interest to allow the purchase of Canadian-based companies producing what the government considers "critical minerals" like copper, uranium, lithium, nickel, etc. by foreign-based entities, (i.e., whether the sale would be of "net benefit" to Canada as a country and its future access to these materials, not nessessarily company shareholders).
For example, Teck's recent attempted sale of its coal unit to Glencore (Swiss-based, London-listed mining company) faced scrutiny by the Feds but was eventually approved, albeit under strict conditions, with the Feds adding that going forward, Canada would allow large mergers and acquisitions in what it considers critical minerals only under the "most exceptional circumstances". Thus the focus appears to be on retaining Canadian company control over these metals / minerals regardless of which foreign nation the potential buyer is based in.