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Nexen (NXY) grows on Cnooc deal

Monday,10 December,2012

Nexen Inc. (NYSE: NXY) added 14.4% to $26.90. The shares, which had fallen last weak on fears that Canada would not approve a deal with China’s Cnooc Ltd., rebounded after Canada did approve the deal. The Chinese takeover of the firm that works in the Canadian oil sands, would be China’s biggest-ever foreign acquisition. Share volume was three million, compared to a daily average of 12 million




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