QEP offer represents 44% premium
American oil and gas is once again being rocked by an activist investor, as Elliott Management has submitted a bid to acquire QEP Resources (stock ticker: QEP).

Elliott is proposing to acquire QEP for $8.75/share in cash, $2.07 billion in total. Elliott is already a major owner of QEP, with 4.94% of the company. This is enough to make Elliott the seventh-largest QEP shareholder. Elliott bought in to QEP in Q4 2017 and Q3 2018, at an estimated average price of $9.22/share

QEP is a company in transition and is in the process of becoming a pure-play Permian firm. QEP has announced the sale of its Haynesville and Williston assets, its last non-Permian positions, but neither of these deals has closed. Assu...

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