Deals
Canada Extends Cnooc-Nexen Review Period by 30 Days
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Canada said it extended its review of Cnooc Ltd.’s $15.1 billion takeover of Nexen Inc. for 30 days to conduct a “thorough and careful” assessment.
Prime Minister Stephen Harper’s government is reviewing the bid, China’s largest ever foreign acquisition, under Canada’s foreign takeover law, which specifies transactions must have a domestic “net benefit” to win approval.