CNOOC’s Nexen Takeover Approved by Shareholders

Nexen Inc. (TSX:NXY,NYSE:NXY) announced that its shareholders approved China National Offshore Oil Corp.’s (CNOOC) takeover of the company.

As quoted in the press release:

The arrangement was approved by approximately 99% of the votes cast by Nexen common shareholders and approximately 87% of the votes cast by Nexen preferred shareholders at the special meeting held on September 20, 2012.

The closing of the arrangement remains subject to the granting of the final order by the Court of Queen’s Bench of Alberta, the receipt of required regulatory approvals and the satisfaction or waiver of the other customary closing conditions.

Click here to read the full Nexen Inc. (TSX:NXY,NYSE:NXY) press release.