China buys Canadian Oil company Nexen for 15 Billion CASH! Hostile corporate takeover of canada? OUTRAGEOUS!!

Canada Indians are outraged that Europeans stole their land and call it canada

Article posted in above link copy and pasted
Expanding Canadian Presence, China's Cnooc Buys Nexen for $15B
By Matt Egan
Published July 23, 2012
FOXBusiness

Reuters
Marking one of Beijing's biggest bets in North America yet, China’s Cnooc unleashed a $15.1 billion takeover on Monday of Canadian energy company Nexen (NXY: 26.05, +8.99, +52.70%).
Cnooc, China’s largest producer of offshore crude oil and natural gas, agreed to pay $27.50 a share for Nexen, representing a healthy premium of 61% on the shares’ Friday close of $17.06.
The transaction marks the largest foreign acquisition by China and its largest play in North America, according to The Wall Street Journal.
Based in Calgary, Nexen employs more than 3,000 people and has oil and gas assets in the U.K., Gulf of Mexico and offshore West Africa. Last year the company generated revenue of $6.4 billion, and produced 207,000 barrels of oil equivalents per day.
“This is an exciting opportunity for us to build on our existing joint venture relationship with Nexen in Canada, and to acquire a leading international platform in the process,” Wang Yilin, chairman of Cnooc, said in a statement.
The pact still needs to be approved by U.S. and Canadian regulators, some of whom may express concern about China’s growing influence in the critical energy market.
Perhaps signaling worries about regulatory approval, shares of Nexen traded well below the $27.50 offer price. In recent action, Nexen was up 52.64% to $26.03. Cnooc was recently down 4.18% to $194.27.
Cnooc, officially the China National Offshore Oil Corporation, spelled out the benefits it believes the transaction will have for Canada. These apparent benefits include making Calgary Cnooc’s North and Central American headquarters, plans to keep the current management team and workforce in place and an intent to list Cnooc’s shares on the Toronto Stock Exchange.
In the U.S., Cnooc said its “investments in exploration and development” in the Gulf will be “maintained.”
“This transaction will allow for significant investment in our business and opens the door to new opportunities for our employees,” said Nexen interim CEO Kevin Reinhart.
Cnooc said it plans to pay for the acquisition through internal and external financing and if the deal is approved, Nexen will become a wholly-owned unit of Cnooc.
“This transaction delivers significant and immediate value to Nexen shareholders,” said Barry Jackson, Nexen’s chairman in a statement.
Cnooc holds investments in a slew of Canadian companies, including MEG Energy and OPTI Canada.
Citigroup (C: 25.34, -0.53, -2.05%) and BMO (BO) served as Cnooc’s financial advisors, while Nexen was advised by Goldman Sachs (GS: 92.81, -1.35, -1.43%) and RBC (RY: 52.41, -0.25, -0.47%).
Related Stocks
RY
52.41
ROYAL BANK O...
-0.25
NXY
26.05
NEXEN INC....
+8.99
C
25.36
CITIGROUP IN...
-0.51
GS
92.86
GOLDMAN SACH...
-1.30
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Not a surprise.
Ever been to Hongcouver?

Willing seller, Willing buyer

I bet payment was in U.S. dollars.

That also wouldn't surprise me. lol

China is on a buying spree lately, they can't seem to get rid of those U$Dollars fast enough.
They know that time is short.

I heard Chinese spies are stationed there too and who could ever find them in that crowd.

Time for a head hunt

Wholly ### i live in northern ontario and they had just put a 30 million bid on one of our closed sawmills. They came late but did not get it instead a firm from India did. To manufacture RAYON from our wood.

Canadian Indians are the most pampered and self absorbed minority on Earth incapable of cleaning their own house both figuratively and literally.

First the purchased abandoned neighborhoods and started china towns, then the purchase of failing restaurants and converting them to noodle shops, then take over the rub & tug businesses, grocery stores, now Oil sands

The Chinese have been investors in the oil sands for quite some time now. This is nothing new.

wow

fossil fuel will become meaningless in future

Prolly spending US $$ before they carsh from inflation. Inflation should take real assets such as oil higher. Win-win for Chin

"You won't recognize Canada when i am done with it"



Steven Harper

Last Edited by northerntomcat on 07/23/2012 03:20 PM

Ha ha canada you have been bought and sold just like america. hail to your new owner/keeper

OMFG!!!!!!!!!!!!

NO WAY! I can't believe this.

But what do you expect. Canada offered the pipeline to the US and the US turned it down.

So this is what happens.

OUTRAGEOUS!! WTF are you talking about.

Westeners robbed chinese for the gold and silver for nothing. They robbed middle eastener's oil for nothing. Are you OUTRAGED? I don' think so.

That low-life, beady eyed, scumbag, Harper. I knew from day 1, that we could not trust him. He is on par with Obama, serves the same agenda. Canadians need to fire this creep.

That could make the pipeline question a little easier. If all their oil goes to communist China, they wont need a pipeline to Texas.

That is a very good point!

In FACT Harper was INELIGIBLE to re run for prime minister ... He was held in contempt of parliment and therefore ineligible ... He RIGGED out last election w robocalls confusing voters.. And has continued his "agenda" unrelenting... I think Jack Layton was given cancer on purpose as Hugo chavez accuses USA of doing to South american leaders!!!
Who will rescue canada when we are in illegal wars and make depleted uranium for NATO????:(

Last Edited by Annonymous User on 07/23/2012 03:38 PM

how is Nexen "our biggest asset" ?

OIL. Is our biggest asset- we already sold the rest Wood-to china,-hydro, and water -To the united states-
Cana-DuH

ok but nexen is just one small player. 15B is not very much money.

$15 billion in one company in one sector does not make or break a nation.

Must be Indian spies, time to go dot head hunting.