Bloomberg News

Harper Says Canada Approves Nexen, Progress Bids

December 07, 2012

Dec. 7 (Bloomberg) -- Canadian Prime Minister Stephen Harper speaks at a news conference in Ottawa about the government's approval of Cnooc Ltd.’s $15.1 billion takeover of Nexen Inc. and Petroliam Nasional Bhd.’s C$5.2 billion ($5.2 billion) takeover of Progress Energy Resources Corp. Harper said the two transactions are the end of a "trend" and the country will no longer allow state-owned companies to take over businesses in the nation’s oil sands, and will toughen requirements in other industries. (English and French. Source: Bloomberg)

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