Cnooc (CEO) still needs approvals from the U.S. and U.K. governments to complete its takeover of...

|By:, SA News Editor

Cnooc (CEO) still needs approvals from the U.S. and U.K. governments to complete its takeover of Nexen (NXY), but Canada was the key risk as NXY's assets in the U.S. are not material and the British government is investor-friendly, Macquarie analysts say. The U.S. approval process may prove "noisy and emotive in the press," but ultimately the deal will be cleared. NXY +14.6% premarket.