Talisman Energy Inc. - proposed takeover of Talisman by Repsol

18 Dec 2014

Slaughter and May is advising Talisman Energy Inc. on UK and competition law aspects of the proposed takeover of Talisman by Repsol. Repsol has agreed to acquire all of Talisman's common shares for US$8.00 per share in cash, representing a 75% premium to the 7 day volume weighted average share price and a 60% premium to the 30 day volume weighted average share price. The total transaction value is approximately US$13 billion including Talisman's current debt.

Talisman is a global oil and gas group, headquartered in Calgary, Alberta and listed in Toronto and New York. The combination of Talisman and Repsol will create a more diversified global energy company with production of over 680 mboe/d, refining capacity of 1 mboe/d and a presence in over 50 countries with 27,000 employees.

Talisman is also being advised by Wachtell, Lipton, Rosen & Katz on US aspects of the transaction and Norton Rose Fulbright Canada LLP on Canadian aspects. Blake Cassels & Graydon is also advising the Talisman Board.

Contacts

Hywel Davies (partner), Efstathios Michael (partner), Kimia Shedy (associate), Hector Sants (associate); Philippe Chappatte (partner), Vassilena Karadakova (associate)


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