Deals
Quebec Seeks to Retain Head Offices by Curbing Hostile Bids
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Quebec will move to shield businesses from hostile takeovers and buy direct stakes in oil and mining projects to nurture homegrown companies, Finance Minister Nicolas Marceau said.
Marceau proposed amendments to the province’s Business Corporations Act that would give public companies “adequate means of defense” against unsolicited bids. The measures are aimed at preserving head-office jobs that help generate C$5 billion ($4.5 billion) in economic activity, according to Marceau’s budget released yesterday in Quebec City.