CNOOC Deal Wins US Approval, But Nexen Mum On Mitigation

Law360, New York (February 12, 2013, 7:40 PM EST) -- The Committee on Foreign Investment in the U.S. on Tuesday approved China's Cnooc Ltd.'s $15.1 billion takeover of Canadian oil producer Nexen Inc., but experts say the agency will almost certainly require Nexen to sell some U.S. assets or restrict access for Chinese nationals to its offshore rigs.

The decision follows approvals from Canadian, Chinese and European officials, and clears the final regulatory hurdle to what will be China's biggest-ever outbound deal. Closing is scheduled for the week of Feb. 25, Nexen said.

The company did...
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