QEP Resources is "carefully considering" a $2.07bn acquisition offer from hedge fund Elliott Management. According to anonymous sources, if the bid is accepted, minority stakeholder Elliott would run the currently underperforming QEP as an independent, private company, while also potentially attracting competing bids for its contiguous 50,700 acres in the Permian Basin. Neighboring operators include Exxon Mobil Corp (XOM.N), Encana Corp ECA.TO and Diamondback Energy Inc The deal could be announced by early next week, according to Bloomberg.
QEP Resources is "carefully considering" a $2.07bn acquisition offer from hedge fund Elliott Management. According to anonymous sources, if the bid is accepted, minority stakeholder Elliott would run the currently underperforming QEP as an independent, private company, while also potentially attracting competing bids for its contiguous 50,700 acres in the Permian Basin. The deal could be announced by early next week, according to Bloomberg.