By Christopher Bjork
MADRID--Spanish oil company Repsol SA is advancing in talks to
buy Talisman Energy Inc. of Canada, in a deal valuing the firm at
as much as 8 billion Canadian dollars ($6.93 billion), a person
familiar with the matter said Friday.
Executives from Repsol have traveled to Calgary to discuss a
takeover bid in the range of C$6 to C$8 per share, the person
said.
News of the potential bid were reported earlier by the Financial
Times.
Talisman's shares rose sharply Friday, up recently more than
30%, from their closing price Thursday.
On Monday, Talisman said that it has been approached by "a
number of parties," including Repsol, regarding various unspecified
transactions. There is no assurance that any deal will be struck,
the company said in the Monday statement, adding that it doesn't
intend to comment further.
Write to Christopher Bjork at christopher.bjork@wsj.com
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