Bernstein Downgrades Talisman Energy (TLM) to Market Perform

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Repsol to Acquire Talisman Energy (TLM) for $8.3 Billion

December 16, 2014 6:23 AM EST

Repsol has agreed with Talisman Energy (NYSE: TLM) to acquire 100% of the shares of the Canadian company for US$8.3 billion (EU6.64 billion), plus assumed debt of US$4.7 billion. The transaction has been approved and recommended by the Board of Directors of the Canadian company.

The deal will transform Repsol into one of the worlds largest privately-owned energy groups, with increased presence in OECD countries, incorporating reserves and production in politically stable countries. Additionally, it will add a significant exploration portfolio and high-quality productive assets in North America (Canada and U.S.), South-East... More