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| CNOOC's Nexen bid: Shareholders approve $15.1bn deal | CNOOC's Nexen bid: Shareholders approve $15.1bn deal |
| (35 minutes later) | |
| Shareholders of Canada's Nexen have approved the takeover bid by China's state-owned CNOOC to acquire the firm in a $15.1bn (£9.3bn) deal. | Shareholders of Canada's Nexen have approved the takeover bid by China's state-owned CNOOC to acquire the firm in a $15.1bn (£9.3bn) deal. |
| CNOOC had offered to pay $27.50 cash per share for Nexen in July, a 60% premium on its share price at the time. | CNOOC had offered to pay $27.50 cash per share for Nexen in July, a 60% premium on its share price at the time. |
| However, the deal still needs to be approved by the Canadian government which has launched a review to access its benefit to Canada. | However, the deal still needs to be approved by the Canadian government which has launched a review to access its benefit to Canada. |
| If approved, the deal will be China's largest foreign business takeover. | If approved, the deal will be China's largest foreign business takeover. |
| "The offer is a compelling one, and offers benefits for all Nexen's stakeholders, including employees and communities," CNOOC spokesman Peter Hunt was quoted as saying by the Associated Press news agency. | "The offer is a compelling one, and offers benefits for all Nexen's stakeholders, including employees and communities," CNOOC spokesman Peter Hunt was quoted as saying by the Associated Press news agency. |
| "CNOOC Limited will continue to pursue all regulatory approvals required to close the transaction." | "CNOOC Limited will continue to pursue all regulatory approvals required to close the transaction." |
| 'Very concerned' | |
| While Nexen shareholders have backed the deal, there seems to be growing opposition to it among politicians and even the general public in Canada. | |
| Canada's biggest opposition party, the New Democratic Party (NDP), has voiced its concerns over the deal. | |
| "We're very concerned about the potential sale of a strategic Canadian asset, not only to a foreign enterprise, but one that is wholly controlled by a foreign government that doesn't follow the same market rules as Canada," said Thomas Mulcair, leader of the NDP. | |
| "The question is how can it be in Canada's interest, how can it be of a net benefit to Canada, to sell a strategic natural resource to a corporation that is wholly owned by a foreign country?" | |
| Meanwhile, according to a latest survey conducted by Abacus Data, 69% of Canadians are also against the deal, while only 8% approve of it, with the rest being unsure. | |
| Mr Mulcair added that the survey indicated that "Canadians share our concerns". |