ASIA

China takes bigger bite into Canadian market

CNOOC has launched the richest foreign takeover bid in Chinese history by putting forward a $US15.1 billion ($A14.7 billion) bid for Canadian oil company Nexen.

James McGrath

The Chinese giant is paying a premium to snare Nexen, with a $27.50 all-cash bid a 61% premium on Nexen's closing price on Friday. Nexen has its foot on oil sands and shale gas in Western Canada and...

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