Talisman Energy Inc. (USA) (NYSE: TLM) issued a press release Monday confirming “that it is engaged in discussions with [Repsol SA] regarding a potential corporate transaction.”
The company noted that it “has also been approached by a number of other parties regarding various transactions,” and that it can provide “no assurances that these discussions will result in a transaction or on what terms.”
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The company said that it “does not intend to make any further comment on this matter” until it is appropriate to make a public announcement.
The talks with Repsol (OTC: REPYY) were reported to be in the range of C$6 to C$8 while Bloomberg suggested that the Canada Pension Plan may also be weighing a bid.
Talisman Energy shares have soared 21 percent amid the news to $5.21.
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