QEP and Elliott sign up

摘要

US shale player QEP Resources has entered into a co-operation agreement with Elliott Management, the US hedge fund that attempted a takeover of the operator earlier this year. Under the new deal, QEP and Elliott, which holds around 4.9% of QEP's common stock, will work together to appoint two new independent directors to the board. In addition, these two new directors will be part of a new five-person operations committee, to also include QEP's chief executive and two current independent directors. The committee will be focused on operational improvement and increasing capital efficiency. As a result, Elliott agreed to customary standstill, voting, and other provisions.