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CNOOC Enters Definitive Agreement to Acquire Nexen Inc.

CNOOC Limited Nexen Inc.
AnnouncedJul 23, 2012
TypeCorporate
Announced Date
July 23,2012
Close Date
February 25,2013
Transaction Type
Corporate
Enterprise Value (EV)($MM)
15100




Snapshot
Proved Reserves
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Location
Region
Canada

Country
Canada

Production & Reserves
Production
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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Transaction Details:  Subscribe to see

CNOOC Limited and Nexen Inc. announced today that they have entered into a definitive agreement under which CNOOC Limited will acquire all of the outstanding common shares of Nexen for US$27.50 per share in cash.

The purchase price represents a premium of 61% to the closing price of Nexen’s common shares on the NYSE on July 20, 2012, and a premium of 66% to Nexen’s 20 trading-day volume-weighted average share price. Total cash consideration of approximately US$15.1 billion will be paid for Nexen’s common and preferred shares, and Nexen’s current debt of approximately US$4.3 billion will…


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