BUZZ-Talisman Energy Inc: Soars on Repsol deal

Tue Dec 16, 2014 7:10am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canada's fifth-largest independent oil producer's U.S.-listed shares up 45.5 pct at $7.45 premarket

** Spain's Repsol SA agrees to buy the company for $13 billion

** Repsol will pay $8, or C$9.33, per Talisman share, a 56 pct premium to the stock's Monday close on both exchanges

** Repsol will also take on $4.7 billion of debt

** Up to Monday's close of C$5.97, Talisman's shares had risen about 40 pct on the Toronto Stock Exchange since Dec. 8, when the company said it had been approached by a number of parties including Repsol

** The U.S.-listed stock also up about 40 pct during the same period