Posted AT 9:19 PM EST on 02/12/08
Hard-hit Nexen shares soar on Total bid rumours
CALGARY — Investors bid up Nexen Inc. by $1.25-billion Tuesday in anticipation that a rumoured takeover bid by French giant Total SA could mark the next wave of oil sands acquisitions.
Nexen's stock price surged more than 10 per cent on a European report that Total may be poised to bid for Nexen, but sources said the Nexen board has heard nothing from its French rival.
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