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Friday, July 25, 2014
Talisman Energy saw a boost in share price on the news that Repsol was interested in a transaction. The company confirmed the approach by Repsol about potential deals, which could include the selling of some of Talisman’s assets or a complete takeover of the company.
Talisman, which has a market capitalization of nearly C$11 billion, did not offer up any details but did say that Repsol had contacted it ‘with regards to various transactions.’
The stock rose C$1.40, or 13 percent, to close at C$11.97 on the Toronto Stock Exchange, though it remains below its 3-month high of C$12.07 on May 7.
On its part Spanish firm Repsol said it was considering possible acquisitions to boost its upstream business but said it had not made a firm decision on the matter. “As the company has said in recent months, it is studying different deals in exploration and production … including possible deals with Talisman,” Repsol said in a regulatory filing in Spain. The firm just posted a net income of €1.47 billion.
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