Deals
Activist Reveals Carrizo Stake and Wants Driller to Consider Sale
- Lion Point builds 6% stake, has held talks with management
- Fund would like Carrizo to explore potential merger with PDC
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Activist investor Lion Point Capital has built a position in Carrizo Oil & Gas Inc. and wants the driller to explore a sale or merger with another Permian explorer to gain scale.
The New York-based hedge fund has an economic exposure to about 6 percent of Carrizo and believes the company is undervalued, according to a filing Monday. Lion Point, which was founded by a former Elliott Management Corp. executive, has held discussions with management about its views.