CNOOC, Nexen deal wins US approval

US regulators have approved the $15.1 billion takeover of Canadian oil and gas company Nexen Inc by China's State-owned CNOOC Ltd, removing the final obstacle to the country's largest foreign takeover.

The deal to buy Calgary, Alberta-based Nexen had already passed regulatory muster in Canada and Europe. But approval from the Committee on Foreign Investment in the United States was also needed because Nexen has US interests.

Nexen said on Tuesday that CFIUS had given the green light and that it expects the deal to close the week of Feb 25, seven months after China's top offshore oil and gas producer made its bid of $27.50 a share.