Repsol Said to Revive Talks With Talisman on Transaction

Repsol SA has revived talks with Talisman Energy Inc., people with knowledge of the matter said, as the Spanish company seeks acquisitions to bolster its presence in North America even while oil prices tumble to five-year lows.

Repsol and Calgary-based Talisman are discussing options that could include the sale of some assets or the whole company, the people said, asking not to be identified because the deliberations are private. Talisman’s plunging valuation -- now at C$4.5 billion ($3.9 billion) after falling about 60 percent since the end of August -- remains a hurdle to any deal, the people said.