中海油

China bids $15bn for Canada’s Nexen

China’s Cnooc has agreed to buy Calgary-based oil group Nexen for $15.1bn plus debt, a bold step that marks the increasing confidence of Chinese energy groups expanding overseas.

The deal, if completed, would be China’s largest overseas acquisition of a listed company, and comes at a time when Chinese companies are increasingly scouring the world for deals during the global downturn.

Cnooc’s cash offer of $27.50 a share represents a 61 per cent premium to Nexen’s Friday closing price in New York.

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