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QEP Resources (QEP) approached by Elliott Management

  • January 25, 2019

POTENTIAL DEAL DETAILS

StockQEP Resources, Inc.SymbolQEP
Date Announced01/07/2019Source Press release
TypeUnsolicited BidAcquiring Company/Person Diamondback Energy, Inc.
Date of Confirmation: 12/21/2020Price at Confirmation: $2.18
Potential Profit: -74.44%Annualized Profit: -38.06%

QEP Resources, Inc. (QEP) today confirmed that it has received a preliminary proposal from Elliott Management Corp. to acquire the Company for $8.75 per share in cash, subject to certain conditions including, among others, satisfactory completion of due diligence and negotiation of definitive documentation.

Update(s):

May 21, 2019: QEP Resources Inc. (QEP) has attracted takeover interest from private equity giant Blackstone Group LP, as well as drillers Whiting Petroleum Corp. (WLL) and Callon Petroleum Co. (CPE), according to people familiar with the matter.

June 27, 2019: Elliott Management Corp. is in advanced talks to buy QEP Resources Inc. (QEP), the oil and gas explorer it offered to buy in January, according to people familiar with the matter.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.