The volume of merger and acquisition activity in Canada slowed 15 percent in the third quarter from the second as market uncertainty held back prospective deals, though a blockbuster bid by China's CNOOC Ltd for oil producer Nexen Inc helped boost the overall value of transactions, a report showed on Wednesday.There were 195 deals announced in the third quarter, the first time M&A activity fell below the 200-transaction mark since the first quarter of 2009, according to a report by investment banker Crosbie & Co. That's a 15 percent drop from the second quarter and a 25 percent year-over-year decline.But the total value of transactions climbed 18 percent to C$40.5 billion ($40.4 billion), due mostly to the quarter's largest deal, CNOOC 's proposal to acquire Nexen , valued at C$15.4 billion."In the resource sectors, volatile commodity prices and lower financing activity led to lower M&A activity, whereas industrial products was flat," Ed Giacomelli, managing director at Crosbie & Co, said in a statement.
CNOOC Limited is an investment holding company. The Company, along with its subsidiaries, is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company. Shares of CEO fell by 0.12% or $-0.25/share to $204.05. In the past year, the shares have traded as low as $170.70 and as high as $234.00. On average, 118592 shares of CEO exchange hands on a given day and today's volume is recorded at 39271.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY fell by 0.29% or $-0.07/share to $24.31. In the past year, the shares have traded as low as $13.63 and as high as $26.21. On average, 5303640 shares of NXY exchange hands on a given day and today's volume is recorded at 2516459.
Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY traded higher by 0.04% or $0.01/share to $24.38. In the past year, the shares have traded as low as $14.20 and as high as $26.70. On average, 1301600 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 285065.
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