Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Canada to Review Target Purchase of Zellers Assets

April 5 (Bloomberg) -- The Canadian government said it will review Target Corp.’s C$1.83 billion ($1.84 billion) purchase of store leases from Zellers Inc. under a “cultural heritage” provision in the nation’s foreign-takeover law.

The government said in an order posted on the Privy Council Office website that it will review the acquisition under a section of the law that relates to Canada’s “cultural heritage or national identity.”

“The government is committed to ensuring that foreign investments benefit Canadians,” said James Maunder, a spokesman for Heritage Minister James Moore who recommended the review. “We will review Target’s proposal and make an announcement in due course,” Maunder said by e-mail.

Link to Company News:{TGT US <Equity> CN <GO>} Link to Company News:{651967Z CN <Equity> CN <GO>}

To contact the reporter on this story: Andrew Mayeda in Ottawa at amayeda@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.