GDF Suez can achieve most of its planned growth without resorting to acquisitions, its chief executive said on Tuesday, after banking and industry sources said Talisman Energy had rebuffed a takeover approach by the French utility.The sources said on Monday that GDF was still seeking acquisitions of up to $20 billion outside Europe and had looked into buying companies including U.S. utility AES Corp after being rejected by Canadian oil and gas producer Talisman.CEO Gerard Mestrallet denied any such plans on Tuesday and insisted on the strong organic growth prospects of the gas and power utility's existing businesses, notably its energy services provider Cofely.GDF is playing down the prospect of game-changing, multi-billion-dollar tie-ups for now. Cofely said last month it wanted to purchase several smaller peers with combined revenue of 1 billion euros ($1.4 billion) to drive home its advantage as Europe's biggest provider of energy services for buildings.
Talisman Energy Inc. (Talisman) is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 0.26% or $0.03/share to $11.48. In the past year, the shares have traded as low as $10.34 and as high as $13.38. On average, 4215320 shares of TLM exchange hands on a given day and today's volume is recorded at 1028420.
Talisman Energy Inc. (Talisman) is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM fell by 1.75% or $-0.225/share to $12.60. In the past year, the shares have traded as low as $10.68 and as high as $13.83. On average, 2029690 shares of TLM.TO exchange hands on a given day and today's volume is recorded at 1132459.
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