Nov 2 Canada said it has extended its review of
a $15.1 billion bid by China's CNOOC Ltd for Canadian
energy producer Nexen Inc by a month to Dec. 10.
"The review period for CNOOC Limited's proposed acquisition
of Nexen Inc. under the Investment Canada Act has been extended
to December 10, 2012," Christian Paradis, Canada's industry
minister, said in a statement.
Ottawa is conducting the review to determine whether a
takeover by the Chinese state-owned enterprise would bring a
"net benefit" to Canada.
CNOOC in July launched China's richest foreign takeover bid
by agreeing to buy Nexen, whose global portfolios include oil
sands and shale gas.
The proposed acquisition has raised concerns within Canada
about allowing a Chinese state-owned enterprise to control
domestic resource assets.
Reuters reported on Wednesday that Canada was likely to
extend its review of the CNOOC bid for Nexen beyond the Nov. 10