Talisman Energy Shareholders Approve Acquisition By Repsol

(RTTNews) - Canadian energy company Talisman Energy Inc. (TLM.TO, TLM) announced that the holders of its Common Shares and Preferred Shares have approved the proposed arrangement under which Spanish oil major Repsol S.A. (REPYY.PK), through a wholly-owned subsidiary, is to acquire all of the outstanding shares of Talisman. Of the votes cast, over 99% of holders of each class of shares voted in favour of the agreement at the special meeting of shareholders held earlier today.

The completion of the arrangement remains subject to the granting of a final order by the Court of Queen's Bench of Alberta, the receipt of required regulatory approvals and the satisfaction or waiver of other customary closing conditions.

It is anticipated that the completion of the transaction will occur in the second quarter of 2015 and all regulatory approvals are on track.

In mid December 2014, Talisman Energy Inc. said it entered into a definitive agreement to be acquired by Spanish oil major Repsol S.A. (REPYY.PK) for $8.00 or C$9.33 per share in cash. Total transaction value was about $13 billion, including Talisman's debt.