Green Light for China-Nexen Takeover

Green Light for China-Nexen Takeover
by corporate@oilprice.com (Jen Alic)
By 25 February, China will have acquired the US assets of Canada’s Nexen Inc. for $15.1 billion after the US Committee on Foreign Investment cleared China’s CNOOC for the last remaining regulatory hurdle. CNOOC Ltd’s acquisition of Nexen’s US assets will represent the largest-ever overseas purchase by a Chinese company, and it was the Committee on Foreign Investment’s task to determine whether such a move represented a national security threat. While Nexen is a Canadian company out of Calgary, the US has jurisdiction…
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