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Alliant executives to talk to feds about nixed MDA sale

April 14, 2008, Ottawa - A report says executives from an American firm are not giving up on their quest to buy a key part of Canada's top space company.


April 14, 2008
By The Canadian Press

April 14, 2008, Ottawa – A report says executives from an American firm are not
giving up on their quest to buy a key part of Canada's top space
company.

The Globe and Mail says execs from Alliant Techsystems are going
to be in Ottawa today in a last-ditch attempt to persuade thefederal government to lift its veto of Alliant's $1.3-billion
takeover bid of MDA.

Alliant official Brian Cullin confirms Carl Marchetto, the head
of the company's space systems division, will meet with officials in
Ottawa today.

He says Marchetto will discuss the government's objection to the
U.S. weapons and space contractor's purchase of MDA's space
division.

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Industry Minister Jim Prentice took the unusual step last week of
blocking the sale amid an outcry the proposed deal could threaten
Canada's ability to defend its Arctic sovereignty and threaten
high-paying jobs.

Prentice say it is a position that makes a change of heart seem
unlikely.

Prentice told CTV's Question Period yesterday that his department
will meet with the American buyers, but his comments suggest this
was merely a formality.

He says the Investment Canada Act requires the government to sit
down with the potential investors to discuss the decision within 30
days.