October 22, 2012 / 1:47 PM / 5 years ago

Progress, Nexen shrs tumble after Canada blocks Petronas bid

TORONTO, Oct 22 (Reuters) - Energy shares in Toronto’s resource-heavy main stock index tumbled at the open on Monday, after the Canada’s government rejected a foreign takeover bid for Progress Energy Resources Corp..

Progress plunged more than 12 percent to an intraday low of C$21.47. Nexen Inc was down about 6 percent to C$23.66 on heightened uncertainty over China’s CNOOC’s C$15.1 billion ($15.2 billion) offer for the energy company.

$1 = $0.99 Canadian Reporting by Claire Sibonney; Editing by Jeffrey Hodgson

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