Reports that BCE is the target of a major U.S. private equity firm, in
the wake of the sale of Inco, Falconbridge, Hbc raises concern that
Canada is losing significant control over corporate decision making
TORONTO, March 30 /CNW/ - Foreign takeovers, such as the recent bid by
Swiss miner Xstrata for LionOre, and news yesterday of a potential bid for BCE
by a US private equity firm, are prompting further warnings that corporate
Canada is being hollowed out. If this trend continues, Canada will start to
lag behind in foreign competitiveness and many of our high-skilled and
high-paying jobs will leave the country.
Since 2005, major Canadian corporations such as Hbc, Dofasco, Fairmont,
Falconbridge and Inco have fallen into foreign hands. Canada has dropped a net
$66 billion in corporate control of major corporations.
Ken Smith, Managing Partner, SECOR Consulting, is available for comment
and can provide a unique perspective on SECOR's recommendations. Ken is able
to speak to a range of issues, including:
- Canada's net spending deficit in the market for corporate control.
Over the past 10 years, foreign companies bought more of corporate
Canada than Canadian companies bought of foreign companies
- The long-term negative impact that foreign control of the largest
Canadian companies will have on the economy of the nation
- Recommendations for government to introduce policies to effectively
level the playing field for Canadian companies
- Canadian corporations developing long-term growth plans and boards of
directors that can fend off foreign buyouts from companies who don't
share similar long-term goals
Smith has been a strategy consultant for 20 years, with a focus on issues
of corporate development, i.e., mergers, acquisitions, divestitures, alliances
and overall business strategy. His perspectives on value creation in corporate
development have been widely published and referenced in the international
business press. His academic background includes a PhD in Mathematics and an
MBA from the University of Toronto.
About SECOR Consulting:
SECOR Consulting is Canada's largest independent strategic consulting
agency providing counsel on business management issues ranging from mergers
and acquisitions and organizational mobilization strategies to research and
development, innovation and cost reduction strategies for the technology,
financial services, industrial and public sectors.
For further information:
For further information: To arrange an interview with Ken please
contact: Patrick Erlich or Nicole Leaver, Media Profile, (416) 504-8464,