VANCOUVER, Sept. 20 (Xinhua) -- Canadian oil and gas producer Nexen Inc. announced on Thursday that its shareholders just approved a proposed acquisition by China's offshore oil and gas giant CNOOC Ltd. through CNOOC Canada Holding Ltd..
The deal was approved by approximately 99 percent of the votes cast by Nexen common shareholders and approximately 87 percent of the votes cast by Nexen preferred shareholders at a special meeting held on Thursday, according to a company statement.
But the takeover still requires approval by the Canadian government under the Investment Canada Act.
CNOOC Ltd. proposed a 15.1-billion-U.S.-dollar acquisition of Nexen on July 23 this year, equivalent to 27.5 U.S. dollars per share, which was 61 percent higher than the closing price of Nexen shares on July 20.
The Calgary-based Nexen Inc. is an upstream oil and gas company listed on the Toronto and New York stock exchanges. It operates oil sands and shale gas in western Canada and conventional exploration and development primarily in the British North Sea, offshore West Africa and the Gulf of Mexico.