Mergers and Acquisitions Recap: Today’s Cnooc & Nexen News, Cisco Buys ThinkSmart
In a new episode to the drama, Cnooc Limited (NYSE:CEO) is said to be trying to raise $6 billion through a one-year loan to help pay for its proposed $15.1 billion purchase of Nexen, Inc. (NYSE:NXY). The mostly state-owned Chinese oil company has invited some 15 banks to participate in the loan. The Japanese lenders who are usually involved in loan agreements which involve Chinese firms of this sort haven’t been invited this time.
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Cisco Systems, Inc. (NASDAQ:CSCO) acquires ThinkSmart, which develops tech that analyzes Wi-Fi location data on enterprise and service provider networks. Cisco’s wireless networking unit has been a star performer for the firm, with sales rising by 22 percent year-over-year in the third quarter, despite strong rivalry from Aruba Networks, Inc. (NASDAQ:ARUN).
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