Canada's rejection of a Chinese takeover bid for Aecon Group Inc. has thrust one of the country's top infrastructure firms into limbo.

Citing national security concerns, the Trudeau government has given the thumbs down on well-advanced plans by CCCC International Holding Ltd., a Chinese state-owned enterprise, to buy Aecon, one of Canada’s largest publicly traded construction and engineering firms.

这笔近10亿美元的交易在发挥作用并获得Aecon董事会的批准中，这笔交易使这家建筑巨头看不到新的求婚者，也没有一位即将离开的首席执行官。

Noting "disapointment" at the decision, CEO John Beck said that "through our proposed transaction with CCCI we had outlined a vision in which Aecon would be better able to compete with the many large global construction companies actively working in Canada."

他补充说：“尽管我们已经阻止了进行交易，但我们正在从实力的位置前进。在过去的几个月中，艾康（Aecon）获得了许多大型项目，拥有创纪录的积压，并提供了重要的机会。新利18备用网址它。”

According to a Bloomberg report,总理贾斯汀·特鲁多（Justin Trudeau）说，身份不明的澳大利亚“同事”告诉政府官员，允许中国支持的公司在决定停止这笔交易之前允许中国支持的公司购买海外建筑部门公司。HollandPty。Ltd.

Chris Murray, an analyst at AltaCorp Capital, notes that Aecon’s long-term future still looks solid, citing “substantial backlogs, solid balance sheet and expected earnings profile.” The firm is forecasting revenue growth and improved profit margins in 2018, with $698.5 million in new contracts booked in the first quarter, bringing the company’s backlog to $3.5 billion.

But the turbulence is expected to have a bigger impact shorter-term, with Aecon’s stock price down from $17.64 to $14.67 after the May 23 announcement by Minister of Innovation, Science and Economic Developmen Navdeep Bains, that the government would veto the deal over unspecified national security concerns.

默里写道：“我们认为，股东基础的破坏和脱位以及公司未来战略方向的不确定性，尤其是在首席执行官搜索方面，很可能会大大影响股价。”

In response to the decision, Aecon announced it will resume a hunt for a new CEO to succeed the retiring Beck, who had agreed to stay on the new choice is made.

The company also announced it is no longer seeking a buyer and is disbanding a special board of directors committee to advise on potential deals.

克里斯·赫什（Chris Hersh）指出，中国共产党的举动对CCCC International等国有企业的运营产生了更大的影响。

加拿大建筑部门的某些部门也有一场组织良好的游说运动。如果得到中国政府的支持并获得廉价融资，潜在的竞争对手担心与AECON竞争的前景。

The campaign against the deal also made a strong case on national security grounds, with Ward Elcock, a former director of the Canadian Security Intelligence Service, warning strongly against it.

“There is an increasing concern over Chinese state entities owning Canadian businesses,” Hersh said.

The government’s move will also likely discourage any similar forays into the Canadian construction business by Chinese state-owned enterprises, observers speculated.

Aecon可能必须自己面对未来，加拿大皇家银行Dominion Securities最近进行的调查发现，“北美12家最大的E＆C公司中的12家最大的E＆C公司都对建筑资产的需求很少”，公司分析师Derek说。Spronck。

“We believe other buyers are unlikely in the near term, and as such, we see Aecon moving forward as a stand-alone company at this point,” he said.

Some see a buying opportunity, with a rising backlog of work at Aecon offering upside for investors. Maxim Sytchev, an analyst with the National Bank of Canada, has put a rating of “outperform” on Aecon stock.

“Blocked acquisition opens a buying opportunity,” read a headline in Sytchev’s report on the deal’s collapse.