WSJ: Repsol, Talisman Talks Over Possible Deal Stalled

Spanish energy giant Repsol's talks to buy oil and natural gas assets from Canada's Talisman Energy Inc. have stalled, according to several people familiar with the matter, a setback for both companies as they try to reposition themselves.

In late July, the two companies said they had discussed possible acquisitions by Repsol of Talisman assets. Talisman Chief Executive Hal Kvisle has described himself as a caretaker and expects to leave by the end of the year. He has said he is open to offers for the Calgary-based company in its entirety or in parts.

Repsol, meanwhile, has said it wants to better balance its production-growth potential and risk in its oil-and-gas exploration and production operations by augmenting its business in politically stable, developed countries.

The talks with Repsol bolstered Talisman's share price this summer. While people familiar with the talks said a possible deal isn't dead, the pace of discussions has "frozen," according to two of these people.
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