Elliott has been engaged with QEP’s management since the beginning of 2018 about how best to improve its share price. "Capitalized terms used and not otherwise defined have the meanings ascribed to them in paragraph 6 of this Agreement. 3 min read; Elliott Strengthens Its Position At TIM. QEP’s Haynesville sale at $735 million created about $2.60/share in value. Each of Elliott and the Company is individually a “Party” and collectively they are the “Parties.” Elliott Management, a US hedge fund manager, said the offer represented a 44% premium to QEP's 4 January closing price. The offer values QEP at $8.75 a share and represents a 44% premium to the stock’s closing price on 4 January. Activist investor Elliott Management Corp said on Monday it has offered to buy oil and gas producer QEP Resources Inc in an all-cash deal valued … This letter (this “Agreement”) constitutes the agreement between Elliott Management Corporation (“Elliott”) and QEP Resources, Inc. (the “Company”). By Jennifer Hiller. QEP's board agreed to study the offer. Elliott has been engaged with QEP’s management since the beginning of 2018 about how best to improve its share price. Calling QEP Resources Inc. "deeply undervalued," two affiliates of activist shareholder Elliott Management Corp., one of the company's largest shareholders, … Elliott makes $2bn bid for QEP Resources ... manager has launched a bid to take over oil and gas producer QEP Resources in a deal valued at $2.07 billion. One of them, QEP Resources Inc., got some more specific help in the form of a takeover offer from Elliott Management Corp. But a Fortune investigation reveals controversial tactics that have helped drive its success. This letter (this "Agreement") constitutes the agreement between Elliott Management Corporation ("Elliott") and QEP Resources, Inc. (the "Company").Each of Elliott and the Company is individually a "Party" and collectively they are the "Parties. The nature of the bidder and the timing say a lot about where E&P stands at the start of 2019. The hard-charging billionaire’s activist hedge fund Elliott Management has slashed the price of its takeover bid for energy company QEP Resources, throwing the $2 … This letter (this “Agreement”) constitutes the agreement between Elliott Management Corporation (“Elliott”) and QEP Resources, Inc. (the “Company”).Each of Elliott and the Company is individually a “Party” and collectively they are the “Parties.”Capitalized terms used and not otherwise defined have the meanings ascribed to them in paragraph 6 of this Agreement. Updated: Nov 27, 2020 Nov 27, 2020 Elliott, which last commented publicly on BHP in August, said in a letter to Chairman Ken MacKenzie that it has been encouraged by recent decisions to exit U.S. shale, … According to Elliott’s letter, the sale is conditional and based on the following things: that QEP does sell off its Northwest Louisiana assets (which the … Shares of QEP Resources, Inc. (QEP)soared 42.7% to $8.68 on Monday after hedge fund manager Elliott Management Corp. made a bid to buy the oil and gas producer for $2.07 billion, claiming the company was “undervalued.” In a letter to the Denver-based company, Elliot Management offered to buy QEP Resources for $8.75 a share in cash, […] DENVER , Dec. 10, 2020 (GLOBE NEWSWIRE) -- QEP Resources, Inc. (NYSE: QEP) (the “Company”) announced today that members of the Company’s senior management will participate in the upcoming MKM Partners Virtual Conference on Wednesday, December 16, 2020 , at 11:50am ET ( … Elliott this month renewed its calls for natural resource giant BHP Billiton Ltd. to review its dual structure, arguing a single company in Australia would add more than $22 billion in shareholder value. Elliott Management’s bid requires closure of the Haynesville sale, according to Elliott Management’s letter, implying that it is indifferent to the sale of QEP’s Bakken assets as announced. In a letter to the board of QEP Resources, Elliott Management offered a takeover bid of $8.75/share in cash, which would value the company at $2.07 billion. In the letter, Elliott … Elliott showed up at QEP almost a year ago. The firm backed QEP’s plan to become focused on the Permian Basin in Texas and New Mexico and sell other assets. Activist investor Elliott Management Corp. has made a proposal to acquire QEP Resources for $2.5 billion, including the assumption of $475.3 million in net debt. (Reuters) Hedge fund Elliott Management Corp on Monday offered to buy QEP Resources Inc (QEP.N), which has a big presence in the Permian Basin near major energy producers, for $2.07 billion, or $8.75 per share, 44 percent above the stock’s […] #hedge-fund #HedgeMaven In the letter, the company claimed that QEP remains deeply undervalued and the sale would be the best approach to maximise shareholder value. Elliott has been engaged with QEP’s management since the beginning of 2018 about how best to improve its share price. Elliott Associates (Elliott Management) is a $9.8 billion New York-based hedge fund founded by Paul Singer. ... (PSA) Issues Statement in Response to Letter from Elliott. One of them, QEP Resources Inc., got some more specific help in the form of a takeover offer from Elliott Management Corp. Activist investor Elliott Management Corp. has made an all-cash offer of $2.07 billion to acquire QEP Resources in a letter dated Jan. 7. Feb 24, 2021 QEP Reports Fourth Quarter and Full Year 2020 Financial and Operating Results Dec 21, 2020 Diamondback Energy, Inc. to Acquire QEP Resources in All-Stock Transaction Dec 10, 2020 QEP Resources Announces Participation in an Upcoming Investor Conference Shares in QEP… Elliott showed up at QEP almost a year ago. Elliott Management Corporation ... QEP) , today released a letter outlining a proposal to acquire QEP for $8.75 per ... and QEP’s management on the … Paul Singer’s Elliott Management has made a bid for QEP Resources, a Colorado-based oil and gas producer, ... in cash in a letter to the company’s board on Monday morning. Elliott made the proposal in a letter to QEP’s board. Letter Agreement, dated August 6, 2019, by and between QEP Resources, Inc. and Elliott Management Corporation. The nature of the bidder and the timing say a lot about where E&P stands at the start of 2019. Elliott Management Corp. made a $2 billion proposal to acquire the portion of QEP Resources Inc. that it doesn’t already own as the activist investor expands its private equity prowess into the energy space. Billionaire Paul Singer runs Elliott, the world's biggest activist hedge fund. HOUSTON (Reuters) - Hedge fund Elliott Management Corp on Monday offered to buy QEP Resources Inc (), which has a big presence in the Permian Basin near major energy producers, for $2.07 billion, or $8.75 per share, 44 percent above the stock’s closing price on Friday.QEP Resources shares surged after the offer was made in a letter to the company’s board.