Monday, March 12, 2012

Takeover Bid of Viterra Inc.

With the threat of a takeover bid of Viterra Inc. we have to wonder how much the demise of the Canadian Wheat Board played in this takeover bid. Viterra is a Saskatchewan based company and vital to our economy. Viterra is Canada’s largest grain company based right here in Regina, Saskatchewan.

Saskatchewan Premier, Brad Wall does not see Viterra in the same light as BHP Billiton. We have no definitive position from the Premier other than to say it has to be a net benefit to Canada and Saskatchewan. Well, that is not hard to figure!

We have even less knowledge of where Prime Minister Harper will come down on this issue. The Harper Government rejected the BHP Billiton takeover bid of Saskatchewan’s potash industry after a lot of pressure from Saskatchewan. Will Prime Minister Harper show leadership this time or do we have to turn again to Premier Brad Wall.

It seems to me our land and resources and the management and handling of our resources is best left in Canadian hands. It is hard to believe that foreign companies, regardless of whom they are, will have the best interests of Canadians at the top of their management agenda.

Not to put too fine a point on this issue, I do not want to wake up some morning and wonder where my shredded wheat is for breakfast.