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

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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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