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  • Mon, Sep. 12, 4:57 PM
    • Spain's Repsol (OTCQX:REPYF, OTCQX:REPYY) and Criteria Caixa agree to sell a combined 20% stake in Gas Natural to Global Insfrastructure Partners for €3.8B ($4.3B).
    • Criteria, the industrial holding company that owns Spanish lender Caixabank, and the oil group Repsol will sell 10% each while retaining respective stakes of 24% and 20%.
    • REpsol says it stands to make a €246M capital gain from the deal.
    | Mon, Sep. 12, 4:57 PM
  • Sep. 28, 2015, 8:49 AM
    • BG Group (OTCPK:BRGXF, OTCQX:BRGYY) agrees to acquire stakes in three exploration blocks off the coast of Newfoundland from Repsol (OTCPK:REPYF, OTCQX:REPYY); no financial terms are disclosed.
    • BG says the deal provides access to early stage exploration in a proven prospective basin ahead of the first well being drilled later this year.
    • The three blocks are operated by Statoil (NYSE:STO).
    | Sep. 28, 2015, 8:49 AM
  • Apr. 8, 2015, 3:48 AM
    | Apr. 8, 2015, 3:48 AM | 7 Comments
  • Feb. 18, 2015, 4:37 PM
    • Talisman Energy (NYSE:TLM) says its shareholders voted overwhelmingly to approve the takeover of the company by Repsol (OTCPK:REPYF, OTCQX:REPYY).
    • TLM expects the deal, which still requires court and regulatory approvals, to close during Q2.
    • Repsol expects the acquisition to boost its oil production by 76% to 680K bbl/day while its reserves would increase 55%.
    | Feb. 18, 2015, 4:37 PM | 2 Comments
  • Dec. 16, 2014, 10:24 AM
    • Talisman Energy (TLM +47.2%) explodes higher at the open after Repsol's (OTCQX:REPYY -2.3%) $13B deal to buy the company, but investors in the Spanish company aren't so enamored, sending shares lower.
    • The purchase price of $8/share reflects a 75% premium to the seven-day volume weighted average share price - a hefty price that analysts say could force Repsol to consider a sale of its 30% stake in Gas Natural; Repsol chairman Antonio Brufau says his company is not considering such a sale.
    • Barclays believes Repsol is getting a business that is free cash flow negative with a problematic North Sea business of questionable value, and that it should have waited longer for what could be a prolonged oil price downturn to make an acquisition.
    • But considering that TLM's share price topped $11 last June before plunging to ~$4 last week, 24/7's Paul Ausick says Repsol got a bargain; TLM’s main assets are high quality - in the Marcellus shale play in Pennsylvania and the Eagle Ford shale play in south Texas, as well as off the coasts of Indonesia and Malaysia - and the two companies' combined production capacity will total ~680K boe/day with refining capacity of ~1M bbl/day, vaulting it into the ranks of the 20 largest oil companies in the world.
    | Dec. 16, 2014, 10:24 AM | 6 Comments
  • Dec. 16, 2014, 2:44 AM
    • Talisman Energy (NYSE:TLM) has confirmed that Repsol (OTCQX:REPYY, OTCPK:REPYF) plans to purchase it for $8.3B, or $8 per share in cash.
    • Repsol said it would also take on $4.7B of Talisman debt as part of the deal, putting TLM's enterprise value at $13B.
    • Talisman Energy's board has approved the offer and recommends that shareholders accept it.
    • TLM +20% After hours
    | Dec. 16, 2014, 2:44 AM | 28 Comments
  • Dec. 15, 2014, 9:51 AM
    • Talisman Energy (TLM +21.2%) explodes higher at the open as Repsol (OTCQX:REPYY, OTCPK:REPYF) closes in on a deal and Canada Pension Plan Investment Board reportedly weighs a bid for the Canadian oil and gas explorer.
    • Bloomberg reports that Canada Pension is considering making a bid for the whole company after initially considered buying parts of it, perhaps emboldened by a 59% YTD plunge in TLM.
    • Expansion is reporting that Repsol’s board is meeting today to approve a TLM bid.
    | Dec. 15, 2014, 9:51 AM | 4 Comments
  • Dec. 15, 2014, 9:03 AM
    • Talisman Energy (NYSE:TLM) +17.2% premarket after confirming it is engaged in discussions with Repsol (OTCQX:REPYY, OTCPK:REPYF) about a potential transaction, and has been approached by other parties.
    • TLM closed 16% higher on Friday as details of Reposl's interest leaked out; senior execs reportedly traveled to Calgary to discuss a deal that could be completed before Christmas.
    | Dec. 15, 2014, 9:03 AM | 4 Comments
  • Dec. 12, 2014, 11:33 AM
    • The perception takes hold that a takeover offer for Talisman Energy (TLM +34.5%) is imminent, as Financial Times reports that Repsol (OTCQX:REPYY, OTCPK:REPYF) executives have traveled to Calgary and hope to seal a deal by Christmas.
    • The price being negotiated is in a range of $6-$8/share, which would represent a premium of up to 117% to TLM’s C$4.26 closing price yesterday; including debt, the deal would give TLM an enterprise value of $10B-$12B.
    | Dec. 12, 2014, 11:33 AM | 4 Comments
  • Dec. 12, 2014, 8:00 AM
    • Talisman Energy (NYSE:TLM) +10.8% premarket after a report suggests Repsol (OTCPK:REPYF, OTCQX:REPYY) is finalizing a €4B for the company.
    • Citing financial sources, the newspaper Expansion says a bid could come in at ~C$6/share.
    • Repsol had recently revived takeover talks with TLM after dropping a plan earlier this year to buy the company, according to reports.
    | Dec. 12, 2014, 8:00 AM | 19 Comments
  • Dec. 8, 2014, 3:58 PM
    • Repsol (OTCPK:REPYF, OTCQX:REPYY) has revived talks with Talisman Energy (TLM -4.8%) in a bid to bolster its presence in North America, according to a Bloomberg report.
    • Repsol and TLM are said to be discussing options including the sale of a selection of assets or the whole company.
    • Repsol, which is seeking to deploy ~$10B in cash on acquisitions outside its home market, reportedly dropped a plan to buy all of TLM in August.
    | Dec. 8, 2014, 3:58 PM | 29 Comments
  • Aug. 28, 2014, 3:59 PM
    • Repsol (OTCPK:REPYF, OTCQX:REPYY) has dropped a plan to buy all of Talisman Energy (TLM -1.9%) but is interested in purchasing some of TLM’s shale assets, Bloomberg reports.
    • Repsol is said to have abandoned its original plan for a full takeover after failing to find buyers for assets it wasn’t interested in owning after a takeover, including TLM's North Sea and Southeast Asia assets, but the companies are talking about TLM assets in Texas’ Eagle Ford and Alberta’s Duvernay regions.
    • Earlier: Repsol, Talisman talks over a potential deal have stalled, WSJ reports.
    | Aug. 28, 2014, 3:59 PM
  • Jul. 23, 2014, 11:16 AM
    • 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.
    | Jul. 23, 2014, 11:16 AM | 3 Comments
  • Jul. 22, 2014, 6:35 PM
    • Talisman Energy (NYSE:TLM) +13% AH following a Bloomberg report that Repsol (OTCQX:REPYY, OTCPK: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.
    | Jul. 22, 2014, 6:35 PM | 9 Comments
  • Sep. 17, 2013, 5:05 PM
    • In an apparent delayed reaction, companies mentioned as possible takeover targets for Repsol (REPYY.PK, REPYF.PK) as it reportedly looks to make a North American oil acquisition in the $5B-$10B range moved higher today.
    • After showing only mild action yesterday, Whiting Petroleum (WLL +3.7%) and Kodiak Oil & Gas (KOG +1.6%) posted strong gains gains; strength in SandRidge Energy (SD +6%) also may have been sparked by Respol speculation, although SD wasn't mentioned in this weekend's WSJ article.
    | Sep. 17, 2013, 5:05 PM | 8 Comments
  • Sep. 16, 2013, 11:45 AM
    • Repsol (REPYY.PK -1%) is downgraded to Neutral by Credit Suisse after a WSJ weekend report that the Spanish oil major is ready to spend $5B-$10B for a U.S. or Canadian E&P company.
    • Credit Suisse says Repsol is likely to conduct a careful search for the right buyer or buyers for its €4.5B ($5.97B) stake in Gas Natural.
    • While the WSJ report is long-term positive for Repsol, in the short term its effect is muted by the need to complete the Gas Natural divestment first, as financing for Spanish corporations remains relatively expensive.
    • Shares of potential U.S. targets Kodiak Oil & Gas (KOG +0.8%) and Whiting Petroleum (WLL +0.2%) show slight gains.
    | Sep. 16, 2013, 11:45 AM