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Canada blocks Petronas' $5.2 billion bid for Progress Energy

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Canada blocks Petronas' $5.2 billion bid for Progress Energy

Euan Rocha

TORONTO
Sat Oct 20, 2012 1:54am EDT

(Reuters) - Canada blocked Malaysian state oil company Petronas' C$5.17 billion ($5.22 billion) bid for gas producer Progress Energy Resources Corp on Friday, a surprise ruling that could have implications for a much bigger offer by China's state-owned CNOOC for oil producer Nexen Inc.

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http://www.reuters.com/article/2012/10/20/us-progress-petronas-idUSBRE89J02X20121020




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