Nov 13 The board of oil producer QEP Resources
Inc should immediately form a committee, independent of
Chairman Charles Stanley, to evaluate a spin-off of the
company's pipeline business, activist hedge fund Jana Partners
LLC said in a letter released publicly on Wednesday.
Jana, which disclosed a 7.5 percent stake in the company
last month and is now its largest shareholder with 7.6 percent,
said Stanley has not fully unlocked the value of the company's
pipeline business for shareholders.
Jana wants the QEP board to form a committee to study a
spin-off, or possibly a sale, of the unit.
A QEP representative was not immediately available to
Shares of QEP rose 3.4 percent to $33.14 in morning trading.