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Energy

QEP shareholder rejects Diamondback's proposed buyout offer

(Reuters) - QEP Resources Inc shareholder Glazer Capital LLC on Tuesday rejected Diamondback Energy’s proposed acquisition of QEP, calling the deal value “materially inadequate.”

Glazer Capital, which owns about 5.7% of QEP’s outstanding shares, said it will reject the proposed acquisition at the special meeting next week and urged QEP shareholders to do the same.

Reporting by Arathy S Nair in Bengaluru;Editing by Sriraj Kalluvila

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