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Canadian Govt Open To Idea of Foreigners Buying Viterra: report

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The federal government signalled on Monday that it is open to the idea of a foreign company buying the country's largest grain handler, Viterra Inc. (VT.TO), according to a Reuters report.

Opposition New Democratic Party legislator Pat Martin asked Industry Minister Christian Paradis to say he would intervene in a possible foreign takeover of Viterra if it could not be clearly demonstrated that it was in the interests of grain producers and the general public.

"Unlike the opposition, our government understands the importance of attracting foreign investments to our economy," Mr. Paradis responded. "Foreign investments help Canadian companies to grow and innovate and provides new opportunities to connect our firms to the world. Our government will continue to welcome investment that benefits Canada."

The Canadian government last year ruled out a takeover of Potash Corp. (POT.TO).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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