Spain's Repsol has agreed to purchase Talisman Energy, Canada's fifth-largest independent oil producer, for $8.3 billion as the drop in oil prices pushes energy companies to take the plunge on big M&A deals.Repsol will also take on $4.7 billion of Talisman's debt.A near halving in the oil price since June has lowered price tags on producers such as Talisman, spurring renewed interest from Repsol, which had 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 the embattled Canadian company and in the long term it could have to consider a sale of its 30 percent stake in Gas Natural , a move Repsol said was not in the works.
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 fell by 1.4% or $-0.16/share to $11.24. 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 17491.
Talisman Energy Inc. (Talisman), is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 48.05% or $2.46/share to $7.58. 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 282786592.
Talisman Energy Inc. (Talisman), is an oil and gas producers, through a combination of exploration, development and acquisitions. Shares of TLM traded higher by 48.07% or $2.87/share to $8.84. 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 82516784.
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