- Apr 12, 2008
- Reaction score
- real world
.....I predicted that the US and their OWS would chase business away and that their vendetta against big business oil would only lower their infulence on the World's reserves?
July 25 (Reuters) - When Canada's Nexen Inc fired its CEO in January, an oil giant on the other side of the world sprang into action.
Nexen had been on the wish list of Chinese state oil company CNOOC Ltd for five years. The removal of CEO Marvin Romanow was just the opening the Chinese needed to make their move, according to sources familiar with the situation.
By the Chinese New Year later that month, CNOOC had hired BMO Capital Markets and Citigroup Inc as financial advisers, according to these sources. That kicked off negotiations culminating on Monday with a deal to buy Nexen for $15.1 billion, the biggest foreign acquisition ever by a Chinese company.