Nexen holders OK CNOOC bid as public concern grows

A man walks into the Nexen building in downtown CalgaryCALGARY, Alberta (Reuters) – Nexen Inc shareholders overwhelmingly approved the oil producer's takeover by China's CNOOC Ltd on Thursday but the stock weakened as public opposition to a state-owned enterprise absorbing $ 15.1 billion of Canadian-owned assets appeared to grow. Shareholder blessing of the deal had been seen as a formality, given the rich 61 percent premium that CNOOC offered on the price of Nexen's shares. But the shares remain well below the $ 27.50 bid price due to uncertainty over the chances of the Canadian government giving the transaction the green light. …



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