Cnooc’s $18bn bid for Canada’s Nexen won approval from US officials on Tuesday, paving the way for the completion of China’s largest foreign acquisition.
Approval from the Committee on Foreign Investment in the US, a multi-agency body that reviews large deals that could affect US security, gives Nexen “all of the requisite approvals to proceed to close”, the company said in a statement.
The Cnooc deal for Nexen is the third Chinese deal to be approved by the committee in recent months, and follows clearances granted for BGI-Shenzhen’s bid for Complete Genomics, and Wanxiang Group’s bid for A123 Systems, the battery maker.
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