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Elliott makes $2.5B takeover bid for QEP Resources
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. In a letter to QEP’s board on Jan. 7, the US hedge fund manager, which owns just under 5% of QEP, proposed an offer of $8.75 per share: a 44% premium to QEP’s $6.08 per share closing price on Jan. 4, but 35% below its 52-week high of $13.37......
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