Canada blocks space firm's takeover

Canada has confirmed its decision to block a foreign takeover of part of the country's premier space technology company MDA.

Industry Minister Jim Prentice first turned down the 1.3 billion dollars (£650m) takeover bid last month for Vancouver-based MacDonald, Dettwiler and Associates' space division by Alliant Techsystems - a US-based munitions and rocket component maker.

It is the first time Canada has rejected a foreign takeover outright in the 19 years since the Canada Investment Act came into effect in 1989.

Mr Prentice said the sale of MDA's taxpayer-subsidised space division would not benefit the Canada.

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