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Hedge Funds Led by Paulson Bet on Nexen Offer: Corporate Canada

Bloomberg – Paulson & Co., the hedge fund run by billionaire John Paulson, and mutual fund firm Franklin Resources Inc. are among foreign investors betting Canada will approve Cnooc Ltd. (883)’s $15.1 billion acquisition of Nexen Inc. (NXY)

Paulson & Co., Franklin, Arrowgrass Capital Partners LLP, Mason Capital Management LLC and Eton Park Capital Management LP, all based outside Canada, bought shares in Calgary-based Nexen in the third quarter, regulatory filings show. Ontario Teachers’ Pension Plan tripled its stake while T. Rowe Price Group Inc. and Jarislowsky Fraser Ltd. sold.

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