$15B CNOOC-Nexen Deal Gets Chinese Approvals

Law360, New York (January 22, 2013, 6:51 PM EST) -- China's top economic planning agency on Friday approved China National Offshore Oil Corp. Ltd.'s $15.1 billion acquisition of Canadian oil company Nexen Inc., pushing the largest overseas acquisition ever by a Chinese company closer to the finish line.

The transaction, which was announced July 23, involves energy assets in the North Sea and the Gulf of Mexico and still needs approvals from foreign investment officials in the U.S. and U.K. But with approvals from Canada last month and China last week, CNOOC is one step closer...
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