Canada Blocks Aecon Takeover by Chinese State Owned Firm Over National Security

An Aecon employee looks at Toronto Pearson International Airport's check-in area. The federal government has blocked the takeover of Aecon Group Inc. by the Chinese state-owned company CCCC International Holding Ltd. Canadian Press/AP, Tobin Grimshaw

OTTAWA—The federal government has blocked the proposed $1.5-billion takeover Aecon Group Inc. by a Chinese state-owned company for reasons of national security.

A spokesman for Economic Development Minister Navdeep Bains has confirmed the government’s decision to prevent CCCC International Holding Ltd. from acquiring the Aecon construction firm.