Wall weighs in on Viterra takeover talk
Saskatchewan Premier Brad Wall says his government will have something to say should there be a takeover bid for grain-handling company Viterra.
Wall says similar to what happened with the proposed takeover of Potash Corp. of Saskatchewan — a proposal the federal government ultimately closed the door on — his government would study the deal.
It would then tell the federal government whether it felt the takeover was a "net benefit" to the country, or not.
"Saskatchewan would be engaged in the process again," Wall said. "We would ask the question, 'Is this a net benefit to Saskatchewan and Canada?'"
Wall added that a grain-handling company can't be a considered a "strategic resource" in the same way that potash or uranium is. However, the economic benefit or impact of a takeover can be a factor in any federal decision on a takeover bid, he said.
The fate of Viterra also fueled debate in the legislature on Monday, with the NDP Opposition raising the possibility of job losses.
The NDP also noted that the Saskatchewan Party supported the end of the Canadian Wheat Board's monopoly on selling Prairie wheat and barley. It's the end of "single desk" marketing that's behind the recent interest in Viterra, the NDP says.
Viterra, which has its head offices in Regina and Calgary, confirmed Friday that it had received an "expression of interest" from an undisclosed company.
On Monday, there were newspaper reports that the $5.5 billion bid might be coming from Switzerland-based Glencore International or U.S.-based Cargill.