If it's convicted of fraud and bribery charges, SNC-Lavalin could end up being taken over by another company and its 9,000 jobs in Canada could move abroad, the engineering firm's CEO told Radio-Canada in an interview today. He also said that while he never told officials in the Prime Minister's Office that a federal prosecution would leave SNC-Lavalin vulnerable to a foreign takeover, it's a possibility. Bruce said that over the past year, the company's stock value has dropped by 25 per cent. It first took a hit of 10 per cent when it disclosed that its work in Saudi Arabia — where it also employs 9,000 people — was drying up. "Ultimately, people will look at it and say, 'Well, SNC-Lavalin is worth more than the current share price.'"

Source: CBC News March 20, 2019 23:08 UTC