Update: Nexen shareholders vote to approve $15.1-billion takeover offer from CNOOC |
| Calgary Herald - Sep 20, 2012 |
As shareholders of Nexen Inc. voted in favour of a proposed Chinese takeover of the company, interim president and CEO Kevin Reinhart called the move the start of a “new chapter” for the Calgary-based oil and gas producer.
At a special meeting Thursday morning, Nexen common shareholders voted 99 per cent in support of the $15.1 billion takeover offer by China National Offshore Oil Company (CNOOC). Nexen preferred shareholders voted 87 per cent in favour of the proposed deal.
Reinhart said the takeover — which still must be approved by the federal government under the Investment Canada Act — offers a significant premium to shareholders, while at the same time preserving the Nexen brand and values. CNOOC has pledged to retain all of Nexen’s employees, keep the Nexen name, and to expand the company’s Calgary headquarters to manage not just Nexen’s assets but also some $8 billion of the Chinese company’s other assets in North and Central America.
Read more: http://www.calgaryherald.com/business/Update+Nexen+shareholders+vote+approve+billion+takeover+offer+from+CNOOC/7273486/story.html#ixzz272l1eQeh
Read Full Article from Calgary Herald
- Posted: 2012-09-20 16:24:00
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