- Talisman Energy (NYSE:TLM) +13% AH following a Bloomberg report that Repsol (OTCQX:REPYY, OTCQX:REPYF) is exploring a bid for the company as it looks to deploy cash it received for compensation in the loss of its stake in YPF as a way to grow outside of its home Spanish market.
- Repsol is said to have identified TLM as a top target and is working with JPMorgan Chase as it evaluates the deal.
- Repsol has said it may spend as much as $10B on deals, and any acquisition probably would be in the U.S., Canada or other developed markets.