Talisman confirms Repsol approach
Global oil & gas exploration and production multinational Talisman Energy Inc. has confirmed it has been approached by Madrid-based energy giant Repsol S.A. regarding a possible transaction.
Put simply, Talisman says Repsol is interested in acquiring it.
Talisman said Tuesday’s confirmation followed a request of Market Surveillance at IROC on behalf of the Toronto Stock Exchange.
The Calgary-based firm says it has been approached by several companies regarding a number of different transactions.
The company said in a statement:
“There is no assurance that any transaction will be agreed. Until such time as it is appropriate to make a public announcement on any potential transaction, Talisman does not intend to make any further comment on this matter.”
Talisman Energy Inc. operates in several countries. It is one of Canada’s biggest independent oil & gas companies.
In July 2014, Talisman confirmed it had been in talks with Repsol, but no deal was ever announced. According to several reports at the time, talks collapsed over Talisman’s North Sea assets, which have been missing production targets for a long time.
With the price of oil declining by 40% since June to its current 5-year low, shares of energy producers have fallen, including those of Talisman.
On Monday, Talisman shares closed four percent down at $4.30, from $11.29 at the end of July.
The company has been the subject of several takeover rumors this year, and has made no secret of its wish to sell assets.