November 28, 2012 / 8:35 PM / in 5 years

Canada says decision on CNOOC's Nexen bid coming in near future

OTTAWA, Nov 28 (Reuters) - Canada will announce “in the near future” its verdict on two big foreign takeover bids as well as updated guidelines on foreign investment, Prime Minister Stephen Harper said on Wednesday.

The government is studying a proposal by China’s CNOOC Ltd to buy Nexen Inc and a bid by Malaysia’s Petronas for Progress Energy Resources Corp .

“We intend obviously to take decisions on a couple of particular matters along with some more general guidance to the marketplace. We intend to do that in the near future and that’s all I’ll say about that,” Harper told a news conference.

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