BlackBerry to press Canadian government on foreign M&A rules

|About: BlackBerry Ltd. (BBRY)|By:, SA News Editor

BlackBerry (BBRY -2.6%) is set to talk with lawmakers about the Investment Canada Act, which covers the acquisition of local firms by foreign companies. Any acquisition worth more than C$344M ($332M) is automatically reviewed.

BlackBerry's actions come amid reports Prem Watsa is having trouble getting Canadian pension funds to join his efforts to take BlackBerry private. The NY Post previously reported BlackBerry would prefer a "Google-like" buyer (almost certainly a foreign company) over a P-E firm.