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Old 07-23-2012, 06:31 AM
 
10,847 posts, read 11,253,275 times
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Nexen Inc. has agreed to a $15.1-billion (U.S.) takeover by Chinese oil producer CNOOC Ltd., marking the most important acquisition to date by an Asian firm in Canada.

The all-cash deal is worth $27.50 per Nexen share, a 66-per-cent premium to the 20-day volume-weighted average for the company, which has not seen its shares reach that level since before the financial crisis. Nexen closed at $17.06 Friday.

China

What do you think of this?
Is it wrong for Canada for keep selling Canada's natural resources?
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Old 07-23-2012, 06:38 AM
 
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Notable foreign takeovers of Canadian energy and resources companies:

PetroKazakhstan, a Calgary-based company exploring in Central Asia, was purchased by the Chinese state-owned China National Petroleum Corporation in 2005;

Dofasco, Canada's largest steel maker was acquired by Luxembourg-based Arcelor in January 2006.

Noranda (mining company) & Falconbridge Ltd., purchased by Swiss mining company Xstrata in 2006.

Stelco, Canada's last major independent steel producer was taken over by United States Steel in August 2007.

Alcan, one the world's largest mining company and aluminum manufacturer, was purchased by Australian/European multinational Rio Tinto for $38 billion in 2007

Addax Petroleum, one of Canada's largest oil and gas companies was acquired by Sinopec of China for C$8.27 billion in June 2009.
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Old 07-23-2012, 07:28 AM
 
Location: Vancouver, B.C., Canada
10,900 posts, read 23,170,895 times
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The Reason is Canada has somr of the largest Oil and Nantural gas Rerserves and with the U.S. having the Bkken it means that inportas from Canada will decrease and the energy andf oil and gas industry is what is driving our economy right now plus they pay for the Project and give billions for R&D here so we get lots of decent paying jobs and we said we would go sell to china after Obama messed up the Keystome XL deal where it was just another oil pipe line that ones made 40 years ago still criss cross both our countries and with all the talk of North American independance from imported ME OPEC Oil..

Obama told Harper to wait to get another Review and he did it was ok and then Obama said he need to hold off his decesion till after the Olypics which made PM Harper made becsue it was not about what was best for both out countire it was just about him making Greenpeace happy aand was about getting Re-elected imn fsct he apporved therCushing to the Gulf part of the pipeline and it is being built as we speak but Obamas didm that to make the unions happy..

So PM Harper had to find other buyers since Obama wanted to do this but he cave to Hollywood Celebs and Green peace instead so Harper went to China and got huge deals and billions of investments and billions more to come and we even ended up with some Panada bears in a good faith gesture.


PM at the Canada-China Business Forum / Le PM au Forum des gens d'affaires Canada-Chine - YouTube
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Old 07-23-2012, 07:44 AM
 
Location: Vancouver, B.C., Canada
10,900 posts, read 23,170,895 times
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Canadian Prime Minister Harper does THE WHO'S The Seeker - YouTube
Thank you Stephen Harper for strengthening our economy and creating jobs and wealth here in Canada and having the guts to get up onstage sing some Rollings stones songs and Rock on
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Old 07-24-2012, 11:44 PM
 
136 posts, read 180,245 times
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Thank God! Us Americans feels a little uneasy if we're not buying all our stuff from China.
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