The Rising Influence of Rising Affluence

[DewDiligence]

China’s Cnooc acquires NXY for $27.50/sh in cash, a 61% premium to Friday’s close:

http://online.wsj.com/article/SB10000872396390443437504577544470741886332.html

In 2011, Nexen produced around 207,000 barrels a day of oil equivalent. Nexen, which describes itself as a major player in Canada's oil-sands sector, is also a producer of shale gas, in northeastern British Columbia.

The nominal deal value, including the assumption of $4.3B of debt, is a whopping $19.4B.