Canada has waved through foreign takeovers of a long list of corporate icons over the past five years. In spite of protests against the "hollowing out" of corporate Canada, foreigners now control Alcan, Inco and Falconbridge, three of the biggest metal producers; Hudson's Bay, the country's largest retailer; and Molson, the Montreal-based brewer.

Which makes the rejection by the Conservative government of a C$1.3bn ($1.27bn, €800m, £650m) bid by Alliant Techsystems of the US for the space division of MacDonald -Dettwiler all the more unusual.