Business

Canada OKs CNOOC’s takeover bid for Nexen

By Rob Gillies
Published December 8, 2012 4:08am ET
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Canada OKs CNOOC’s takeover bid for Nexen
This Tuesday, July 10, 2012 aerial photo shows a Nexen oil sands facility near Fort McMurray, Alberta, Canada. On Friday, Dec. 7, 2012, Canada approved China's biggest overseas energy acquisition, a $15.1 billion takeover by state-owned CNOOC of Canadian oil and gas producer Nexen. (AP Photo/The Canadian Press, Jeff McIntosh) | Jeff McIntosh

TORONTO (AP) — Canada approved China’s biggest overseas energy acquisition, a $15.1 billion takeover by state-owned CNOOC of Canadian oil and gas producer Nexen, but vowed Friday to reject any future foreign takeovers in the oil sands sector by state-owned companies.

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