Petronas/Progress Energy Deal Blocked – A Roundup of Coverage
Canada blocks Petronas’ bid for Progress Energy – AP TORONTO — Canada has blocked the Malaysian state-owned oil firm Petronas’ US$5.2 billion (CA$5.17 billion) bid for gas producer Progress Energy Resources, saying the proposed investment would not provide a net benefit to Canada. Federal Industry Minister Christian Paradis did not explain his decision in a statement released just before midnight