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Nexen Inc Profit Falls, Still Expects CNOOC Ltd Deal By Year-End-Reuters


Thursday, 25 Oct 2012 08:00am EDT 

Reuters reported that Nexen Inc said it still expects a $15.1 billion takeover bid by China's CNOOC Ltd to close in the current quarter. Nexen, which reported a 71% fall in third-quarter profit, struck a takeover deal with CNOOC in July but the politically sensitive deal remains in limbo as the Canadian government determines whether it is of 'net benefit'. 

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