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Talisman says it has been approached by Repsol, shares +12%

  • 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.
Comments (3)
  • Mark Krieger
    , contributor
    Comments (3845) | Send Message
     
    " there is no assurance that any deal can be reached"? Really??? What a dumb ass statement! When is anything certain?
    23 Jul, 11:23 AM Reply Like
  • IseeIsee
    , contributor
    Comments (7) | Send Message
     
    Dude...chill out. It's just a disclaimer so that trading is fair and balanced. Everyone is on the same page that nothing has been signed.
    23 Jul, 12:46 PM Reply Like
  • 2839298249
    , contributor
    Comments (243) | Send Message
     
    Thats just legal cover.

     

    The multi-billion dollar question is: "How much of a premium is Repsol willing to pay?" I would be really surprised by any bid over $13.00.

     

    We'll see what happens...
    23 Jul, 12:05 PM Reply Like
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