From Bloomberg: Paulson & Co., the hedge fund run by billionaire John Paulson, and mutual fund firm Franklin Resources Inc. are among foreign investors betting Canada will approve Cnooc Ltd. (883)’s $15.1 billion acquisition of Nexen Inc.
Paulson & Co., Franklin, Arrowgrass Capital Partners
LLP, Mason Capital Management LLC and Eton Park Capital Management LP, all
based outside Canada, bought shares in Calgary-based Nexen in the third
quarter, regulatory filings show. Ontario Teachers’ Pension Plan tripled its
stake while T. Rowe Price Group Inc. and Jarislowsky Fraser Ltd. sold.
The purchases were made before Canada rejected a C$5.2
billion ($5.2 billion) bid by Petroliam Nasional Bhd. for Progress Energy
Resources Corp. (PRQ) on Oct. 19, which cast doubt on the Nexen deal
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