Canada says no to Chinese construction takeover

Construction | Toronto, Canada

A Canadian regulator has cited national security concerns to block the proposed acquisition of Aecon by China Communications Construction, an agreement worth C$1.5 billion (about $1.2 billion) that was first announced last October. Aecon is a provider of construction and infrastructure services that helped build Toronto's CN Tower. Stock in Aecon (TSX: ARE) closed Thursday down more than 15%.