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Hedge Fund

Toms Capital urges Devon Energy to consider sale

hedgeweek

6 days ago

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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 shareholders. The position represents a significant in...

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