Cold Winter Temperatures Give Rise to a Hot M&A Market for the Canadian Oil and Gas Sector

It was the biggest deal of 2012: Chinese state-owned firm CNOOC Limited’s takeover of Calgary oil and gas producer Nexen Inc. Although there were a total of 260 deals closed over the course of the year, it was CNOOC Limited’s CDN$14.95 billion transaction and another megadeal — PETRONAS’ CDN$5.5 billion acquisition of Progress Energy — that helped lift 2012 transaction values to approximately CDN$49.5 billion.
[Read more…]