Spain's Repsol has agreed to purchase Talisman Energy, Canada's fifth-largest independent oil producer, for $13 billion, showing how the drop in oil prices is pushing energy companies to take the plunge on big M&A deals.A near halving in the oil price since June has lowered price tags on producers like Talisman, spurring renewed interest from Repsol which has long been searching for oil and gas assets in North America and elsewhere.But analysts said the Spanish company had paid a hefty price for Talisman and in the long term it could have to consider a sale of its 30 percent stake in Gas Natural.Repsol chairman Antonio Brufau told analysts the group was not considering such a sale and would also not be rushed into divesting some of the Talisman assets that overlap with Repsol.
Gas Natural Inc., is a natural gas company, primarily operating local distribution companies in six states and serving approximately 70,000 customers. Shares of EGAS traded higher by 0.26% or $0.03/share to $11.40. In the past year, the shares have traded as low as $7.92 and as high as $13.17. On average, 35797 shares of EGAS exchange hands on a given day and today's volume is recorded at 42118.
Talisman Energy Inc. (Talisman), is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 19.35% or $0.83/share to $5.12. In the past year, the shares have traded as low as $3.46 and as high as $11.86. On average, 10238600 shares of TLM exchange hands on a given day and today's volume is recorded at 38927624.
Talisman Energy Inc. (Talisman), is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 18.45% or $0.93/share to $5.97. In the past year, the shares have traded as low as $3.96 and as high as $13.13. On average, 4102690 shares of TLM.TO exchange hands on a given day and today's volume is recorded at 15099059.
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