Canada has again lengthened its review of Cnooc's (CEO) $15.1B bid to buy Nexen (NXY) by a...

|By:, SA News Editor

Canada has again lengthened its review of Cnooc's (CEO) $15.1B bid to buy Nexen (NXY) by a month, this time to December 10. The extension provides the government with extra time to formulate guidelines for dealing with foreign acquisitions of Canadian companies, which it wants to announce at the same time as its ruling on Nexen. Meanwhile, PM Stephen Harper has indicated that Canada would block foreign takeovers if other countries aren't open enough to Canadian investment.