Seeking Alpha

In new letter, Jana presses QEP to separate midstream business

  • Jana Partners sends a new letter to QEP Resources (QEP +3.8%) pressing for a separation of the company's midstream business "to unlock its true value."
  • The activist fund, which owns 7.6% of QEP, also wants to add board members and see non-core asset sales and dropdowns.
  • Chairman/CEO Charles Stanley "is unwilling to accept that true value maximization requires the full implementation of this plan, most importantly the immediate separation" of the field services operations, the letter says.
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