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Group 42, Radoff to solicit consents to replace Vaalco board members

Nov 09, 2015 - The Deal Pipeline

Oil services provider Group 42 Inc. and activist investor Bradley Radoff said Friday that they intend to solicit consents from fellow stockholders to replace four of the seven members of the board of Vaalco Energy Inc. (EGY) with their nominees to make governance, strategic and operational improvements to reverse what they called "underperformance and value destruction" at the company.

They said they and their affiliates own 11.1% of the Houston oil and gas explorer's outstanding shares.

Vaalco's shares jumped 6.4% on the news to close at $...