A ring fence won't build national champions
The Globe and Mail (1936-2017); Oct 19, 2012; ProQuest Historical Newspapers: The Globe and Mail pg. A17
The CNOOC-Nexen review has gone into overtime. While an extension of the review process isn't unusual, the question is whether the playbook has changed. There's a danger that, with the clock running down, improvisation has taken over.
Conventional wisdom is that, while the deal will be approved, the government is working out an announcement that will include signals to forestall any future attempt to acquire a Canadian oil and gas company that's even larger than Nexen. Read more