Former major Canadian Companies acquired by foreign ownersLabatt Brewing Company - purchased by Belgian brewer Interbrew in 1995

Molson Breweries - merged with US -based Coors in 2005

Hudson's Bay Company - purchased by US investor in 2006

Sears Canada - which purchased Eaton's in 1999 - in turn is controlled by Sears in US

Corel, the software company, taken over by US-based Vector Capital in 2003

Alcan - purchased by in 2007 by UK's Rio Tinto

Stelco Steel - taken over by United States Steel in 2007

Bauer and Cooper hockey products maker - taken over by Nike in 1994

CCM - manufacturer of hockey equipment - taken over by Reebok in 2004

Dofasco Steel - purchased by Luxembourg-based Arcelor in 2006

Noranda and Falconbridge Ltd (mining) purchase by Swiss-based Xstrata in 2006

Seagram (distillery) - sold to French-based Vivendi Universal and Pernot Ricard in 2000

Imperial Oil - controlled by US-based ExxonMobil

Question

Explain the benefits and drawbacks of the Canadian company being taken over by, or sold to, foreign interests.