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Gold/Mining/Energy : Talisman Energy Inc. (TLM)

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From: george steven	11/17/2005 9:42:34 PM
	of 82

DJ Canada's Talisman Energy Rejected Bid As Inadequate:Report 17 Nov 13:17 DOW JONES NEWSWIRES A major oil company has bid for Talisman Energy Inc. (TLM), but the offer was rejected as inadequate, The Globe and Mail reported, according to the Canadian Press. The newspaper said the failed offer was revealed by Talisman chief executive officer Jim Buckee in a private presentation to analysts in Toronto on Tuesday. Buckee said the price wasn't attractive and that the Calgary-based company would only entertain an offer if there were a "fat premium" on the current stock price. Buckee didn't indicate when the bid was made or hint at which company made the offer, beyond calling it a "major." A Talisman spokesman said Wednesday that the company had nothing to add to Buckee's comments. Analysts note that Talisman stock appears to trade at a reasonable valuation. That could justify a bid even at high prices for a major oil company, according to the Canadian Press. (END) Dow Jones Newswires 11-17-05 1317ET Copyright (c) 2005 Dow Jones & Company, Inc.

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