Premier says Canadian grain company not a strategic asset
Updated: Tuesday, March 13, 2012 4:50 PM
CALGARY, Alberta (AP) -- Saskatchewan's premier says Viterra Inc. does not fit the province's definition of a strategic resource, but the fiscal and economic impacts of a potential takeover of Canada's largest grain handler must be analyzed.
Brad Wall's comments Monday came as foreign bidders reportedly were formulating takeover offers for the company. Viterra confirmed last week that it received third-party expressions of interest.
The premier said the federal government will need to determine if the Viterra takeover is a net benefit to Canada and Saskatchewan, but noted that it's different from PotashCorp because it doesn't involve a strategic resource.
Wall helped lead the opposition to a takeover attempt by BHP Billiton for PotashCorp. Canada eventually blocked that deal.
Copyright 2012 The AP.