Canada Extends Review of Cnooc Takeover Bid for Nexen
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Canada has extended its review of Beijing-based Cnooc Ltd.’s $15.1 billion takeover of Nexen Inc. for a second time, re-setting the deadline to Dec. 10.
Prime Minister Stephen Harper’s government began its review of the bid for the Calgary oil and gas producer under the country’s foreign-takeover law after it was announced on July 23. On Oct. 11, Industry Minister Christian Paradis said he extended the review by 30 days.