Shares in Calgary-based Progress Energy Resources rose Friday after the Wall Street Journal reported that Malaysia?s state-owned oil company, Petronas, had re-submitted its takeover bid.
Progress shares ran up 2.65 per cent to $20.51 Friday at midday on the Toronto Stock Exchange.
Ottawa has rejected the $6-billion deal as lacking net benefit for Canada, but allowed the companies a chance to take another run at winning approval.
Nexen Inc., whose controversial $15.1-billion takeover by China National Offshore Oil Co. is also being weighed by Industry Canada, rose 1.15 per cent to $25.55.
Ottawa's net benefit test for big foreign deals with Canadian companies has been criticized for being ill-defined.
Prime Minister Stephen Harper has said clarifications to the process are coming shortly.
Source: http://news.yahoo.com/petronas-said-submit-progress-bid-164800211--finance.html
new york giants hot wings recipe 7 layer dip recipe chris carter superbowl 2012 kickoff time what time is the super bowl 2012 nfl mvp
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.