Cnooc Completes Nexen Acquisition; Nexen Shares to Delist
February 25 2013 - 6:13PM
Dow Jones News
By Chip Cummins
TORONTO--Nexen Inc.(NXY) said late Monday that Chinese state-run
energy giant Cnooc Ltd. (CEO) has completed its aquisition of the
Canadian oil-sands producers.
The $15.1 billion deal recently won government and regulatory
approval from Canada, the U.K. and the U.S. In a statement, Nexen
said Kevin Reinhart would continue as the company's chief
executive, while Cnooc CEO Li Fanrong will assume the chairmanship
of Nexen's board. Nexen's shares will be delisted from the Toronto
Stock Exchange and the New York Stock Exchange in coming days,
Nexen said.
As part of its bid, Cnooc promised to keep Nexen's headquarters
in Calgary and transform those offices into the headquarters for
Cnooc's North and Central American operations. Nexen confirmed
those moves late Monday.
-Write to Chip Cummins at chip.cummins@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Cnooc (NYSE:CEO)
Historical Stock Chart
From Apr 2024 to May 2024
Cnooc (NYSE:CEO)
Historical Stock Chart
From May 2023 to May 2024