09:45 AM
Nexen (NXY) buys an additional 15% stake in Canada's Long Lake oil sands project from OPTI Canada for $735M. The deal boosts Nexen's stake in the venture to 65%.
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09:37 AM
Nexen (NXY) opens way down after media reports Total (TOT) has decided not to bid for NXY. -20% to $15. (previously I, II)
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Tuesday, December 2, 2008
13:28 PMNexen (NXY +22.5%): "We are not aware of any corporate developments to account for this activity." (PR) Which could indeed be true.
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11:54 AM
Nexen (NXY +21%) surges on reports Total (TOT +5.8%) is meeting to approve an offer of up to C$19.7B (C$38/share) for the Canadian oil company. Total is said to have considered selling its 13% stake in Sanofi-Aventis (SNY) if it had proved difficult to secure bank financing for the deal.
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