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Canada OKs CNOOC’s takeover bid for Nexen

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TORONTO (AP) — Canada approved China's biggest overseas energy acquisition, a $15.1 billion takeover by state-owned CNOOC of Canadian oil and gas producer Nexen, but vowed Friday to reject any future foreign takeovers in the oil sands sector by state owned companies. Prime Minister Stephen Harper said the government would only consider future takeover deals in the oil sands by state-owned companies in exceptional circumstances.

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