TORONTO Feb 12 Canadian oil producer Nexen Inc
said on Tuesday that the Committee on Foreign
Investment in the United States has approved its $15.1 billion
takeover by China's CNOOC Ltd, removing the final
barrier to China's largest foreign takeover.
The two companies had been waiting for U.S. approval of the
deal because Nexen has assets in the Gulf of Mexico. Canada
approved the deal late last year, but indicated it would not
allow further takeovers in the strategic oil sands sector by
foreign state-owned enterprises.
Calgary-based Nexen said it now has all the regulatory
approvals needed for the transaction to proceed. It expects the
deal to close in the week of Feb. 25.