Magnum Hunter Sells $150M in Stock Deal to “Activist Investor”

Magnum Hunter Resources (MHR) has quickly become a big player in the Marcellus/Utica region. They have a laser focus on northeast drilling, quickly building up a 200,000 acre position, largely in West Virginia and Ohio. Yesterday MHR announced they’ve cut a deal with Relational Investors LLC, granting Relational common stock and stock options in return for a tidy $150 million in cash–money MHR intends to use for more drilling in the northeast. Who’s behind Relational Investors, and should landowners (and MHR investors) be concerned? The answers may surprise you…

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