NEW YORK--(BUSINESS WIRE)--Elliott Management Corporation (“Elliott”), which manages funds that are collectively a top-10 shareholder in Energen Corporation (NYSE: EGN) (“Energen” or the “Company”), today released the following statement supporting Energen’s decision to commence a review of strategic alternatives:
“Energen has some of the best assets in the Permian Basin, yet remains deeply undervalued. Elliott supports Energen’s decision to immediately initiate a full and comprehensive review of strategic alternatives to unlock the value of these assets for shareholders. We expect that any such review, to be considered truly comprehensive, will be conducted with shareholder input and will include full engagement with interested acquirers.”
Elliott Management Corporation manages two multi-strategy funds which combined have more than $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.