Ontario Teachers’ Triples Stake in Nexen
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Ontario Teachers’ Pension Plan, Canada’s third-largest retirement fund, tripled its holdings of Nexen Inc., the Calgary-based energy producer that’s the target of a takeover by Cnooc Ltd. of China.
Ontario Teachers’ increased its holdings to 6.82 million Nexen shares from 1.72 million, raising its stake by about $143.7 million in the third quarter, according to a filing with U.S. regulators.