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Canada to take more time on CNOOC takeover

By Rob Gillies
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TORONTO (AP) — Canada is taking more time to review Chinese state-owned CNOOC’s takeover bid for Canadian oil and gas producer Nexen. It would be China’s biggest overseas energy acquisition.

Industry Minister Christian Paradis said in a statement Friday evening that the review of the proposed $15.1 billion purchase has been extended by 30 days until Dec. 10.

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