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CNOOC Says Expects to Close Nexen Deal in Q4

CNOOC Says Expects to Close Nexen Deal in Q4

A spokesperson for CNOOC Ltd. (NYSE: CEO) told Benzinga he still expects the acquisition of Nexen (NYSE: NXY) to close in Q4 and the company will continue to "fully cooperate with regulatory review process on the deal."

The Minister of Industry in Canada stated the review period for CNOOC Limited's proposed acquisition of Nexen Inc. under the Investment Canada Act has been extended to December 10, 2012. "As the Minister stated,the extensions to the review period are not unusual", said Nick Deng from the company's investor relations department.

CNOOC offered $27.50 per share for Nexen on July 23, 2012.

Posted-In: News M&A Global Pre-Market Outlook

 

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