By Christopher Bjork
MADRID-Spanish oil company Repsol SA (REP.MC) said Thursday it
expects its $8.3 billion takeover of Talisman Energy Inc. (TLM.T)
to close May 8, after the deal cleared all necessary regulatory
hurdles.
Repsol's shareholders are set to vote to approve the takeover
Thursday, one of the largest by an oil company since crude prices
began to tumble late last year.
The acquisition, which also includes $4.7 billion in debt, will
almost double Repsol's oil output and sharply increase its exposure
to the U.S., Canada, Southeast Asia and the North Sea.
In 2014, Repsol had a daily hydrocarbon production of 355,000
barrels of oil equivalent, while Talisman produced 301,000 barrels
a day, according to a Thursday regulatory filing by Repsol.
Write to Christopher Bjork at Christopher.Bjork@wsj.com
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