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Canada rejects Alliant Tech's satellite purchase

OTTAWA
Fri May 9, 2008 7:16am EDT
An Alliant Techsystems rocket is seen in a handout photo. REUTERS/Handout

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OTTAWA (Reuters) - Canada confirmed on Friday that it would block the proposed US$1.325 billion sale of sensitive Canadian satellite technology to U.S. rocket-maker Alliant Techsystems Inc (ATK.N).

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Canada initially halted the deal a month ago -- in part because it feared it might lose control of top-secret images -- but gave Alliant Tech a month to appeal.

Industry Minister Jim Prentice said in a statement that he still felt the proposed sale by MacDonald Dettwiler and Associates Ltd (MDA.TO) would not be of "net benefit" to Canada.

(Reporting by Louise Egan; editing by Rory Channing)
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