Source: http://www.cbc.ca/news/business/story/2012/10/25/nexen-cnooc.html
Nexen, a Calgary-based oil and gas producer, agree upon CNOOC’s takeover deal. This deal is considered as a deal that will gain “net profit” by the Canadian government. However it has been a long time since the agreement is made in the 23rd of July, and the takeover is still in process.
There are many concerns from the Canadian stakeholders. Security is one major concern. As CNOOC is a state owned company, it is possible that the information of Canadian users being observed by China. As oil and gas are most important materials for production and daily life operation, people may feel uncomfortable for a foreign company to control the production of these goods. There is also a concern towards China’s economy in general. Its unique, fast-growing economy is different from what the Canadians understand and brings uncertainty. In the other hand, China also is trying hard to understand the slow decision-making speed of the Canadian company.
The companies should work on clarifying the doubts in minds of the Canadian stakeholder, and emphasize on the benefit that this takeover would bring. they should also focus on forming a style of operation that suits both cultures.
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