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Stock Market & Financial Investment News

News Breaks
February 26, 2013
06:22 EDTCEO, NXYCNOOC completes acquisition of Nexen
Pursuant to the plan of arrangement holders of Nexen (NXY) common shares will receive cash proceeds of $27.50, without interest, and holders of Nexen preferred shares will receive cash proceeds of C$26.00, plus accrued and unpaid dividends up to, but excluding, the closing date of the Arrangement, without interest. Kevin Reinhart will continue as CEO of Nexen and will maintain responsibility for all of Nexen's operations. The company's Calgary headquarters will continue to be responsible for managing all of Nexen's existing assets as well as CNOOC Limited's (CEO) North and Central American assets.
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