Morningstar Analyst Says Repsol Bid For Talisman Energy Is In The Middle Of Where Company Is Currently Trading And What It's Actually Worth

Speaking to Benzinga, Morningstar Analyst David Meats said that the rumored Repsol SA (OTC: REPYY) bid of C$6-C$8 per share bid for Talisman Energy Inc. (NYSE: TLM) is sort of right in the middle of Talisman’s value and what the stock is currently trading at.

Because of the collapse in oil prices, Meats explained, the company is trading significantly below net asset value.

“So I think what Repsol is trying to do is kind of sit in the middle with a bid in the middle of what it thinks the company is worth and where it’s currently trading, so that Talisman shareholders and Repsol can split the pie,” he said.