Ian McKinnell

Guess who’s a Nexen shareholder? CPP.

And guess who loses out if the takeover deal is rejected? (You.)

October 2, 2012

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Some interesting facts about CNOOC’s bid to buy out Nexen:

As of March 31, 2012 (opens pdf), The Canadian Pension Plan Investment Board owned 3.4 million shares of Nexen.
As of December 31, 2011 (opens pdf), Quebec’s Caisse de dépôt et placement owned 1.8 million shares of Nexen.
Before CNOOC`s offer, Nexen shares were trading in the $17-18 range.
CNOOC is offering $27.50 a share of Nexen.

The CNOOC offer amounts to giving NEXEN shareholders a $10/share premium, or over $50 million for our publicly-run pension funds. If you participate in another pension fund that also has a stake in Nexen, you might want to take that into account as well.

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