Talisman Shareholders Approve Repsol's $8.3b Offer

Talisman Energy Inc common shareholders on Wednesday voted to approve an $8.3 billion offer for the Canadian oil and gas producer from Repsol SA, clearing the way for the Spanish company to acquire Talisman's worldwide operations.

 

Talisman shareholders voted 99.9 percent in favor of Repsol's Dec. 16 offer to pay $8 per share for the company, a 56 percent premium to the day-prior closing price for the company on the Toronto Stock Exchange. Repsol will also assume Talisman's $4.7 billion long-term debt.

 

The acquisition, expected to close by midyear, still requires regulatory approval.