Investigation announced for Investors in shares of QEP Resources, Inc. (NYSE: QEP) over Takeover

An investigation was announced concerning whether the takeover of QEP Resources, Inc. is unfair to NYSE: QEP stockholders.

Investors who purchased shares of QEP Resources, Inc. (NYSE: QEP) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of QEP Resources, Inc. breached their fiduciary duties owed to NYSE: QEP investors in connection with the proposed acquisition.

Denver, CO based QEP Resources, Inc. operates as a crude oil and natural gas exploration and production company in the United States.

On December 21, 2020, Diamondback Energy, Inc. (NASDAQ: FANG) and QEP Resources (NYSE: QEP) announced that they have entered into an agreement under which Diamondback will acquire QEP Resources, Inc. in an all-stock transaction. Under the terms of the merger agreement, stockholders of QEP will receive 0.05 shares of Diamondback common stock in exchange for each share of QEP common stock, representing an implied value to each QEP stockholder of $2.29 per share based on the closing price of Diamondback common stock on December 18, 2020.

However, given that at least one analyst has set the high target price for NYSE: QEP shares at $3.50 per share, the investigation concerns whether the offer is unfair to NYSE: QEP stockholders. More specifically, the investigation concerns whether the QEP Resources Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Those who are current investors in QEP Resources, Inc. (NYSE: QEP) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.