Continuing the recent trend of Asian companies investing in Canada, state-owned China National Offshore Oil Corp. made its largest acquisition to date, agreeing to acquire Nexen Inc. for US$27.50/share in cash"”a 61% premium to Nexen's prior-day closing price. Including $2.8 billion in assumed debt the deal comes to $17.9 billion, which will be funded from existing cash and external financing.CNOOC chief Li Fanrong said the company will work actively to promote approvals from the......
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