French oilsands player readying $19B bid for Nexen: report
CALGARY - Shares in Nexen Inc. rose 11 per cent Tuesday after a report said that French oil major Total SA is poised to make a $19.7-billion takeover offer for Canada's No. 4 independent oil explorer.
Nexen earlier jumped 33 per cent for its steepest intraday gain in 21 years.
The Financial Times reported on its website Tuesday that Total's board of directors was meeting to approve a $38-per-share offer for Nexen.
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