Citing a lack of "net benefit" to Canada it appears, according to the Globe and Mail, that the Canadian Government has rejected the sale of MDA to ATK, for now. And while this is a move I agree with as stated in my earlier posting, I am a little surprised. The Canadian government has never rejected a takeover since the Investment Canada Act went into affect in 1989.
So what does this mean for the deal? Well, Industry Minister Jim Prentice has given ATK 30 days to make its case that the deal should go through. I don't think they can make a case that it would be a "net benefit" for Canada. Radarsat2 is a national security space asset that Canadians paid for and should remain in Canada's control. And while there are jobs at stake, perhaps this case has shown the government that investing in space is important to Canada's interests and that they should try to revive an industry that has been neglected for some time.
Good for Canada. There has been enough conglomeration of North American Aerospace industries already