China’s CNOOC is taking over Nexen for $15B but the Canadian government is now extending the review for 30 days, according to Bloomberg.
Surely, that’s because US politicians don’t want to deal with it before the election (a large part of Nexen’s operations are in the US).
I take it as a sign that the takeover is likely to go through, which would open up Canadian oil companies to more takeovers and boost CAD. There is talk that a wave of takeovers could follow a positive decision.
