QEP - QEP Resources retraces gains as shareholder THRC supports FANG takeover

QEP Resources ([[QEP]] -2.9%) shareholder THRC Holdings says it supports the company's pending acquisition by Diamondback Energy ([[FANG]] -1.0%), noting the deal "provides a number of synergies that are hard for us to ignore."THRC, which owns a 5.84% stake in QEP, believes the combined production and decreased leverage created in the transaction would "allow a successful path forward for the combined company.""This is not a trade for us, rather we firmly believe there is long-term value here for the shareholders," Wilks Brothers VP of investments Matt Wilks says in support of FANG's proposal.QEP shares had been rising in recent days after shareholder Glazer Capital came out against the proposed takeover.

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QEP Resources retraces gains as shareholder THRC supports FANG takeover