Nexen Sale Said to Turn on China Backing Canada Deals

Canada plans to ask China to allow several transactions in exchange for approval of state-owned Cnooc Ltd. (883)’s $15.1 billion bid for Nexen Inc. (NXY), said a person with knowledge of the matter. This list of deals by Canadian companies in China underscores that reciprocity will be part of foreign investment policies Prime Minister Stephen Harper’s government will release soon, said the person, who spoke on the condition of anonymity because the discussions aren’t public. Another person with knowledge of the matter said Canada is seeking concessions from China before agreeing to the Nexen deal.  

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