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Tuesday, February 12, 2013

CNOOC-Nexen deal wins key U.S. regulatory approval, (NYSE: CEO), (NYSE: NXY), (TSE: NXY.TO)

Canadian oil producer Nexen Inc said on Tuesday that the Committee on Foreign Investment in the United States has approved its $15.1 billion takeover by China's CNOOC Ltd, removing the final barrier to China's largest foreign takeover. The two companies had been waiting for U.S. approval of the deal because Nexen has assets in the Gulf of Mexico. Canada approved the deal late last year, but indicated it would not allow further takeovers in the strategic oil sands sector by foreign state-owned enterprises.

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 remained unchanged at $199.51. In the past year, the shares have traded as low as $171.58 and as high as $234.00. On average, 77800 shares of CEO exchange hands on a given day and today's volume is recorded at 0.

Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY remained unchanged at $26.87. In the past year, the shares have traded as low as $14.63 and as high as $27.06. On average, 9443920 shares of NXY exchange hands on a given day and today's volume is recorded at 5255146.

Nexen Inc. (Nexen) is an independent global energy company. Shares of NXY fell by 0.15% or $-0.04/share to $26.93. In the past year, the shares have traded as low as $15.18 and as high as $27.25. On average, 1197150 shares of NXY.TO exchange hands on a given day and today's volume is recorded at 0.



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