M&A could be a factor for Canadian dollar again in Talisman deal
Spanish daily Expansion reports that Spain’s Repsol is holding an extraordinary board meeting today to approve a takeover bid for Canada’s Talisman Energy. The deal is rumored to be in the $8 billion range. The meeting is due to start at around 1500 GMT, Expansion said.
Shares of the company are up 16% in the pre-market.
The loonie was stubbornly strong on Friday despite the continued swan dive in oil and buying/hedging/frontrunning related to this deal may have been responsible. Offers at 1.1600 are also in play.
Last at 1.1587, virtually flat on the day.
