QEP - QEP Resources: A Steal
Some investors in QEP Resources (QEP) are undoubtedly excited about the overture the company received from Elliott Management Corp., while others would be justifiably horrified that management did not immediately instruct Elliott to raise their bid or get lost. In its offer to QEP, Elliott acknowledged that the business is tremendously undervalued and that this deal would be a way for shareholders to realize some of that value, but what they did not reveal was that, as the business stands today, it’s worth far more than what even Elliott has offered to buy