Impending change to Investment Canada Act could complicate Glencore’s pursuit of Teck

early notification of their intent to buy Canadian companies, extending the time period for national security reviews, and increasing financial penalties for those who don’t comply with the rules.

His amendment would mean that an acquirer of a Canadian company that has been convicted of bribery or corruption must be subject to a “Section 25.2″ security review by the federal government. Glencore has a significant track record of bribery and corruption offences internationally. Reguly: End game nears in the battle for Canada’s last diversified mining giant, and the odds do not look good for the pursuer

“Delving into the Glencore [pursuit of] Teck Resources, and Glencore’s history around the world, prompted me to think of this,” Mr. Perkins said in an interview.

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