Devon Energy Gains on Report Activist Investor Toms Capital Is Pushing for Sale (DVN:NYSE)

Devon Energy gains on report activist investor Toms Capital is pushing for sale (DVN:NYSE)

Devon Energy (DVN) shares rose on activist Toms Capital pushing strategic alternatives, including a potential sale.

Activist Toms Capital urges Devon Energy in letter to explore alternatives, including a sale

Toms, which manages just over $4 billion in assets, says in the letter it is now one of Devon's top five shareholders.

Activist Toms Capital Pushes Devon to Sell Itself; Marcellus in Play - Marcellus Drilling News

An activist hedge fund that has been quietly leaning on Devon Energy since June has now put its demands in writing, and it’s asking for a lot more. Toms Capital Management sent Devon a letter earlier this month urging the company to explore “strategic alternatives, including a sale.” In other words, sell the whole company,...

Toms Capital urges Devon Energy to consider sale

Activist hedge fund Toms Capital Management is pressing Devon Energy to review strategic alternatives, including a potential sale of the US oil and gas producer, according to a report by CNBC.Toms believes that that the company's enlarged asset portfolio has created unnecessary complexity and is weighing on its valuation.Toms, which manages more than $4bn, said in a letter to Devon's board that it has become one of the company's five largest sha…

Logon Opalesque Alternative Market Briefing

Toms Capital Management has urged Devon Energy to explore strategic alternatives including a sale of the entire company, arguing that its complex portfolio is depressing its valuation. The hedge fund, which manages just over USD4bn and says it is now one of Devon's five largest shareholders, estimat... Article link

Toms Capital Urges Devon Energy to Explore Strategic Sale

The activist investor says it is now one of Devon’s five largest shareholders and argues the company’s expanded asset base has become too complex.