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Elliott bids $2.07 Billion For QEP Resources
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QEP Resources has confirmed that it has received a preliminary proposal from Elliott Management Corp. to acquire the Company for $8.75 per share in cash - which would translate to a deal worth approximately $2.0 billion.
The offer is slightly above QEP's current stock price, which is at ~$8.50 as of January 7, 2019. Shale Experts expects that the offer price will be negotiated to at least a premium of 20%.
In the letter, Elliott noted its offer is contingent on the successful sale of QEP's Haynesville asset, which is currently pending.
Elliott stated: "Since the beginning of 2018, we have engaged with the Board of Directors of the Company and QEP’s management on the best path forward for the Company to maximize shareholder value. The engagement has been constructive, and the Company has…
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