Canada's junior finance minister, Ted Menzies, said on Tuesday his constituents are split over Chinese state-owned CNOOC Ltd's $15.1 billion takeover bid for Canadian oil producer Nexen Inc , with some backing and others opposing the deal.The Conservative government, of which Menzies is a member, is now deciding whether to approve the CNOOC bid on the basis of whether it is of net benefit to the country. Menzies, himself, is a legislator from the oil-rich province of Alberta, where Nexen's Canadian assets are concentrated.The bid has divided cabinet, pitting ministers keen for more investment in the tar sands of northern Alberta, one of the world's biggest crude oil deposits, a g ainst those nervous about a Chinese state-owned enterprise buying Canadian assets."I've heard many concerns, varying concerns, concerns about the resource industry, concerns about a foreign company investing in Canada," Menzies told reporters when asked what his constituents were telling him.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY fell by 0.35% or $-0.09/share to $25.45. In the past year, the shares have traded as low as $13.63 and as high as $26.21. On average, 9226610 shares of NXY exchange hands on a given day and today's volume is recorded at 2855566.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY fell by 0.4% or $-0.1/share to $24.79. In the past year, the shares have traded as low as $14.20 and as high as $26.70. On average, 2882290 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 1362885.
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