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Nexen Inc. Message Board

  • taratara144 Nov 4, 2012 4:17 PM Flag

    Cnooc has 30 days to make merger acceptable

    Current deal as structured gets no vote

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    • The vote is a done deal, and not in question. We are waiting on the elected officials to make their minds up. I'd like someone in the govt to tell us exactly what they want out of the deal to make it 'acceptable'. GLTA. AT

      • 1 Reply to arbtrader69
      • looks like elected officials think nxy is too undervalued even at premium of the offer. Relations with China are a bit more strained with China ambassador to Canada telling critics in the Canadian Capital to prove China spying or hold their tongues ('shut up') i think was the quote. China could ask cnooc to just walk away, but there are not a lot of other places in the world where such quality or size oil assets can be acquired. In the past it looked like only pcz was offf limits to foreign takeover, times are changing as governments see peak oil on the horizon. If cnooc can make the deal work, good for them as its only going to get tougher when supply/demand gets tight once again. The alternative is to make a bunch of smaller oil acquistions not so much on the radar and not so much in the public eye. Being value investors cnooc (China) might walk away rather than pay up.

        Sentiment: Hold