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Competition Bureau reviews China’s offer for Nexen, Inc

By  |  July 24, 2012

The Canadian Competition Bureau will review Chinese state oil company CNOOC’s $15.1 billion offer to buy Alberta-based oil company Nexen Inc. In deciding whether fair competition will be prevented or lessened by the deal, the government will assess “whether the deal will be of ‘net benefit’ to Canada” based on a six-factor inquiry. The factors include “[t]he effect on the level and nature of economic activity in Canada,” “[t]he effect of the investment on competition within any industry…in Canada,” and how the deal would contribute to Canada’s world market presence.

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    Full content: Reuters

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