Senior executives of the Spain-based Repsol are currently in Calgary to discuss a deal that could value Talisman at up to $8 billion, according to Financial Times. The companies reportedly hope to agree on a deal before Christmas.
The companies are reportedly negotiating on a price of between $6 and $8 a share for Talisman.
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On Monday Talisman confirmed it was "approached by a number of parties, including Repsol, with regards to various transactions," adding that there was "no assurance that any transaction will be agreed."
TheStreet Ratings team rates TALISMAN ENERGY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate TALISMAN ENERGY INC (TLM) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."