Commentators weigh in on CNOOC Bid for Nexen

A woman walks into the Nexen building in downtown Calgary, Alberta, July 23, 2012. REUTERS/Todd Korol

The $15.1-billion bid by Chinese state oil company CNOOC for Nexen, has sparked analysis far and wide about both the merits and the drawbacks of the deal, with commentors such as Lexpert-ranked competition lawyer Oliver Borgers of McCarthy Tétrault LLP weighing in on its likelihood to receive approval from Ottawa: 

“It so far appears to be a mutual two-way street. Canada has made it clear that it is looking for Chinese investment … And China is now in a way reciprocating that interest by investing in a Canadian company, he told Reuters earlier this week. “It appears to want to do a lot for that Canadian company in terms of increasing its size, its footprint, its presence globally, all of the things that would be music to the ears of the Canadian government.”

The Globe and Mail’s columnist Margaret Wente points to the deal as transformative, lauding the progress Canada has made in developing a strong alliance with China, and decrying the doomsayers.

CNOOC is not the Politburo dressed up in pinstripes, she writes. “It’s listed on the New York Stock Exchange. It’s canny enough to have hired good advisers whose job is to help it build goodwill in Canada and make sure it doesn’t do anything that might alienate its new Canadian friends.”

As for the lawyers and firms involved, The American Lawyer has the full listing available on its blog.

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