Halcon Resources adds board member in deal with Fir Tree

|By:, SA News Editor

Halcon Resources (NYSE:HK) says it reached a settlement with activist investor Fir Tree Capital that will change the composition of the energy company's board.

HK says it will add Carin Barth, co-founder and President of P-E firm LB Capital, to its board, raising the number of directors to eight.

Fir Tree agrees to support HK's slate of three independent director nominees at next month's shareholders meeting.

Fir Tree, which owns 7.2% of HK's stock, had sought to appoint two new directors to lead a strategic process to sell the company.

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