Petronas intends to renew its C$5.17B ($5.2B) acquisition of Progress Energy (PRQNF.PK), Reuters...


Petronas intends to renew its C$5.17B ($5.2B) acquisition of Progress Energy (PRQNF.PK), Reuters reports, and is assessing the steps it needs to take to assure Canada's government that the deal would provide a "net benefit" to the country. Canada blocked the deal on the grounds it wouldn't, although sources say that approving the deal would tie the government's hands over CNOOC's (CEO) $15.1B bid for Nexen (NXY).

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