- Trading resumes in Talisman Energy (TLM +11.8%) after the company acknowledges it has been approached by Repsol (OTCQX:REPYY, OTCPK:REPYF) regarding various transactions, but says there is no assurance that any deal will be reached and will make no further statement until "such time as it is appropriate."
- Media reports yesterday said Repsol is considering a bid for TLM, whose U.S. assets, especially an opportunity to gain a foothold in the oil-rich Eagle Ford basin in Texas, likely are the most enticing, according to a Cannacord note.
- "Talisman would be a big step,” a Banco Santander analyst says. “There might be assets in the Talisman portfolio that could be of interest, but a full company bid would be a surprising move.”
- Trading in TLM had been halted since ~10:00 ET.