Nexen and Progress takeovers approved

View Comments

Official confirmation.

  •  Future state-owned investments in oilsands will be approved on “an exceptional basis” only
  • Further oilsands state control won’t benefit Canada
  • New foreign investment guidelines will place stricter conditions on state-owned investments

That’s pretty much to worst thing the government could have said while still approving the deal. They slammed the doors on further sovereign takeovers and Harper said it’s ‘the end of a trend’ not the start.

It is still a significant Canadian dollar positive but the gold rush to buy Canadian assets will need to be led by private money or state-owned enterprises taking minority shares.

Author: Adam Button

Adam Button is the managing editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.


All|Americas|Market Rumors|Regions

Adam Button


  1. You’re the man Adam! I take back all those things I said about you being a closet Anne Murray/Celine Dione Fan!

    When she begins to rock, I begin to roll!

  2. Thanks Doyl. Being right about USD/CAD doesn’t pay like GBP/JPY but money is money

  3. Lift my bourbon glass to that! Have a good weekend.

  4. Well done Adam/ I followed the deal from far away… :)

  5. good work Adam. Friday gave us a bearish outside bar, with a nice close not far from its low. I’m thinking of shorting at the break of this low for more further downside on the pair. What do you think?

  6. makes sense… anyway, I’ve got to run. have a great weekend everyone


© Copyright 2014 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.