U.S. regulators have approved the $15.1 billion takeover of Canadian oil and gas company Nexen Inc by China's state-owned CNOOC, removing the final barrier to China's largest foreign takeover.Calgary, Alberta-based Nexen said on Tuesday the Committee on Foreign Investment in the United States (CFIUS) has approved the deal. The companies had been awaiting U.S. approval of the deal because Nexen has assets in the Gulf of Mexico, as well as in Canada and other countries.Canada gave the contentious deal a green light late last year, but indicated it would not allow further acquisitions in the strategic oil sands sector by foreign state-owned companies.The United States has traditionally been more wary than Canada of Chinese investment, prompting some speculation that Washington might want Nexen to dispose of the U.S. assets.
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 19729284.
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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