Shareholders of Nexen have given a big thumbs-up to the takeover of the company by a Chinese state-owned oil giant.
The takeover bid from CNOOC got 99 percent approval from common shareholders, and 87 percent of preferred shareholders.
The 15.1 billion dollar deal is still being reviewed by the federal government, which will only approve it if it finds there will be a net benefit to Canada.
Prime Minister Stephen Harper has said China needs to show its state-owned companies will play by the same rules as Canadian ones if it wants takeover bids to go through.
September 20, 2012
