New York-based investment management firm Elliott Management Corp. has offered to acquire natural gas and crude oil exploration and production company QEP Resources Inc.
Elliott intends to acquire the company for $2.07 billion or $8.75 per share which is 44 percent above the stock’s closing price on Friday.
If the transaction is successful, Elliott expects to operate QEP as an independent private company.
In October 2017, Elliott Management purchased California-based intelligent traffic visibility solutions provider Gigamon for $1.6 billion.