CNOOC's Nexen bid review extends another 30 days

Canada said on Friday it needs another 30 days to review China National Offshore Oil Corporation's takeover bid of Calgary-based oil and gas producer Nexen.

"The review period for CNOOC's proposed acquisition of Nexen under the Investment Canada Act has been extended to Dec 10," Canadian Industry Minister Christian Paradis announced in a statement on the 15.1-billion-dollar takeover bid. It was the second extension of the review. On Oct 11, the Canadian government decided to extend the review period by 30 days, one day before a 45-day initial review ended.