Jan 13 Activist investor Jana Partners LLC
increased its stake in oil producer QEP Resources Inc
and said it plans to nominate candidates to the company's board.
Jana, the largest shareholder of QEP, increased its stake to
9.5 percent from 7.6 percent on Monday.
QEP said in December it would spin off its pipeline business
after pressure for the activist hedge fund that said the company
did not have the expertise to run the unit.
Jana said on Monday it would continue to discuss with the
board on issues such as separation of QEP Field Services from
the company, the board and management composition and its
incentive compensation structure, among other things. ()
In a U.S. regulatory filing, Jana said it might engage in
discussions with shareholders and other interested parties
regarding nominating director candidates to the company's board.
Under pressure from Jana, the company is looking to
transform itself into a pure-play exploration and production
QEP said in December it would buy oil assets worth $950
million in Texas' Permian Basin.