Acquisition of Talisman Energy Inc. by Repsol S.A.

On May 8, 2015, Repsol S.A., an integrated global energy company based in Madrid, Spain, completed the acquisition of Talisman Energy Inc., a global upstream oil and gas company headquartered in Canada whose common shares were listed on the Toronto and New York stock exchanges, in a deal worth approximately C$16.5 bn (U.S.$13.5 bn). The transaction was the largest M&A deal by value announced in Canada in more than two years. The transaction was completed by way of court-approved arrangement under the Canada Business Corporations Act and, upon closing, all of the issued and outstanding common and preferred shares of Talisman were acquired by Repsol for cash consideration.

Talisman was represented by Norton Rose Fulbright in Canada, with a team that included Kevin Johnson, Tad Gruchalla-Wesierski, Don Tse, Steven Leitl, Darren Hueppelsheuser, Dion Legge and Peter Allegretto, and in the United States for securities class action litigation, with a team including Gerard Pecht and Peter Stokes.