On August 23 Talisman Energy Inc. and Rigel Energy Corporation announced that they had reached an agreement whereby Talisman would make an offer to Rigel shareholders to purchase all issued and outstanding Rigel common shares on the basis of 0. 30 Talisman common shares and $1. 00 in cash for each Rigel share. The formal takeover bid was to be mailed on or about September 2 and the offer is open for at least 21 days. The transaction is valued at $1. 2 bn. . Bennett Jones represented Talisman with key lawyers on the transaction including J. Douglas Foster, John MacNeil and Donald Greenfield. Macleod Dixon represented Rigel with principal lawyers being Andrew G. Love and John Fitzgerald. Harry Campbell and Grant Zawalsky of Burnet, Duckworth & Palmer acted for Rigel’s Special Committee of the Board of Directors, which reviewed the strategic alternatives available to the corporation.