Nexxen Shareholders and responsibility

[mustardman]

I think nexxen shareholders have a Moral obligation to NOT sell their shares to chinese corp.
Money is not Everything. But they will probably sell and then we Expect the Fed gov't to turn down the deal????

First line of morality stands with the shareholders.

[wmoebis]

Morals are reserved for use on Sunday mornings only.

[ASRG]

Why isn't it moral? The government of Canada has no problem dealing with Communist China, Cuba, and just about every tyrant and dictator in the world....why should Nexen shareholders be any different?
If China wants to buy your grain do you get all bent out of shape and refuse on moral grounds?

[mustardman]

I am all for them buying Our grain, or oil or Potash.
But I don't want them OWNING the farms, the Oil Industry or the Potash Mines in Canada.(which by the way is slowly happening)

[ASRG]

So is it just China you have a problem with? How about the USA companies? Or the state owned companies from France, Norway, Kuwait, Dubai?
Pretty hard to condemn China when we sell to a dictatorship like Kuwait and Dubai, which have fairly dismal human rights records?

[Burbert]

Sell to the highest bidder. Let the
market rule. Who cares, wes capitalists
ain't we? Morality has nothing whatsoever
ta do wit the market, lyin and cheating
rule. Getteer while ya kin is my motto,
were here fer a good time, not a long time
is what the tune says!

[wilagro]

Of course Harper will okay the deal. Any sell-out as long as he gets another free-trade agreement to boast about.

The Chinese see him as an amateur and cater to him as long as they see potential there for inroads into our resources.

That is all we need...a whole raft of furinners getting our resources for next to nothing and we get the pollution and LOSS OF CONTROL.

Harper hasn't a clue of what is right for Canadians. Like "Jack and the Beanstalk"...he'll sell us out and we will be poorer for it in the end.

[ASRG]

Wilagro:What has been going on for the last 50 years? America owns our energy sector....in case you didn't know?
Who cares if some guy in New York owns it or some Chinese Guys? If you feel really strongly about it go out and buy the stock?

[wilagro]

ASRG: Actually we as Albertans DID own many of our resources until successive PC governments played Santa Claus with them and sold them at a fire-sale price to foreign-owned oil companies (mostly American) and now are willing to allow even more give-a-way deals with Chinese State Corporations. I guess our future needs don't matter.

Did you read that our CSIS regards this deal as a security risk...who'd a thunk it? Someone actually had the brains to figure this all out.

Harper and his bunch are simpletons with NO foresight whatsoever.

[ASRG]

On the other hand....if I owned Nexen stock (I don't) I'd be pretty pissed off if Harper nixed the deal?
Don't forget this isn't the "first sale" allowed to a Chinese state owned entity? Several oil sands investments and shale gas in the Horn River?
We can't even find out the ownership structure of the proposed Northern Gateway Pipeline.....but definitely some Chinese investors (and probably state investors)!
How does the Canadian government decide which is okay, and which isn't?
Maybe it is the size of the bag of cash handed under the table?

[Hopperbin]

The Nexen deal really is not that good if you go back 5 years from today and see what share price was back then. Or purchased at some of the high points in the meantime. I am also not a shareholder but seems to me someone is getting bought out here and a full investigation should be conducted and there will likely be some shady deals on the inside.

[Hopperbin]

UPDATE 1-China envoy warns Canada against politicizing Nexen deal
6 hours ago - Reuters

UPDATE 1-China envoy warns Canada against politicizing Nexen deal
* Ambassador, in interview, calls for free-trade deal talks

* Zhang says treaty would expand bilateral trade, investment

* Remarks comes as Chinese commerce minister visits Canada

TORONTO, Sept 22 (Reuters) - China's ambassador to Canada warned in remarks published on Saturday against letting domestic politics drive the Canadian government's decision on whether to approve a Chinese state-owned oil company's proposed $15.1 billion takeover of Calgary-based Nexen Inc.

"Business is business. It should not be politicized," Ambassador Zhang Junsai said in an interview with Canada's Globe and Mail newspaper.

"If we politicize all this, then we can't do business," he added, referring to the Canadian Industry Ministry's review of CNOOC Ltd's proposal to buy the Canadian oil and gas producer.

The deal, if completed, would mark the first outright takeover of a large Canadian energy producer by a Chinese state-owned enterprise.

The ambassador also said negotiating a full free-trade agreement within a decade would be the best way of assuring fair, two-way trade and investment between China and Canada.

"It's time to open up each other's markets," Zhang said in remarks that coincide with Chinese Commerce Minister Chen Deming's visit to Canada. "It's high time to do the exploratory work on the possibility of a free-trade agreement."

The newspaper said it was the first time that a senior Chinese representative called for early, accelerated talks on a free-trade deal.

Concern that China has unfairly limited Canadian companies from investing there is one of the issues affecting the debate within Canada on whether the government should approve CNOOC's bid for Nexen.

Industry Ministry officials are looking closely at the bid to determine whether it is of net benefit to Canada.

CNOOC, whose offer has already been endorsed by Nexen shareholders, said it did not expect Chen to raise its sensitive takeover bid during talks with the Canadian government.

But Canadian Trade Minister Ed Fast fully expects to discuss ways to expand Canada's relationship with China when he meets with Chen on Sunday, Fast's spokesman said on Saturday.

"Canada wants to continue to expand its relationship with China, but we want to see it expand in a way that produces clear benefits for both sides," spokesman Rudy Husny said in an emailed statement. "Minister Fast will continue this discussion when he meets with his counterpart tomorrow in Vancouver."

Canada's priority is to remove what it considers to be Chinese trade barriers on goods and services, and increase exports such as lumber, grains, beef and value-added products, Husny said.

In the Globe interview, Zhang said a free-trade treaty would go a long way toward expanding trade and investment between the two countries, an important goal for Canadian Prime Minister Stephen Harper.

Harper wants to ease the dependence of Canada's export-oriented economy on the United States, its main trade partner.

Although Canada is seeking substantial foreign investment in its oil and gas industry, the CNOOC move is raising concern inside the cabinet, where some members are wary of letting a Chinese state-owned enterprise buy up domestic assets.

Zhang said Canadian fears over China's intentions are unfounded. "We are not coming to control your resources," he said.