Blackstone, Whiting, Callon Mulling Bids for QEP -- May 21, 2019

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Link here to Bloomberg via Rigzone.

QEP Resources Inc. has attracted takeover interest from private equity giant Blackstone Group LP, as well as drillers Whiting Petroleum Corp. and Callon Petroleum Co., according to people familiar with the matter.

The Denver-based natural gas and oil explorer and producer said in February that it would explore a sale after activist investor Elliott Management Corp. made a $2 billion proposal to acquire the company. Elliott remains in the bidding for the company.

The process could draw to a close as soon as next month, the people said. A final decision hasn’t been made and QEP’s plans could still change.

Elliott, which is run by billionaire Paul Singer, owns about 5% of QEP. It said in January that it backed QEP’s plan to become focused on the Permian Basin in Texas and New Mexico and to sell other assets.