Investors search for direction in wake of Petronas-Progress decision
— The Globe and Mail
Traders spent the weekend trying to get inside the head of Industry Minister Christian Paradis.
Investors, particularly hedge fund types, are wondering whether the federal Conservative government meant what it said when it told Malaysia’s Petronas it could not buy Canada’s Progress Energy Resources Corp. because it did not clear the “net benefit” test. Investors spent the past two days picking apart press releases looking for clues.