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Elliott Management proposes to take over QEP Resources in $2B cash deal

Jan 08, 2019 - SNL Energy Finance Daily

Elliott Management Corp. proposed to acquire a 100% stake in Denver-based crude oil and natural gas producer QEP Resources Inc. for $8.75 per share in cash, saying the company "remains deeply undervalued" and a sale would be the best way to boost shareholder value.

The asset manager, one of the largest shareholders of QEP Resources, said its takeover offer represents a 44% premium to the company's closing price on Jan. 4, according to a Jan. 7 news release.

"[D]espite the promise of ...