Nexen Seen Securing Deal After Canada Rebuffs Progress

Nexen Seen Securing Deal After Canada Rebuffs Progress

Goh Seng Chong/Bloomberg

Canada blocked Petroliam Nasional Bhd.’s C$5.2 billion ($5.24 billion) purchase of Progress Energy on Oct. 19, saying it wasn’t convinced that the bid by the Kuala Lumpur-based company, known as Petronas, was in its national interests.