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Taconic Capital Advisors Maintains Activist Stake in WPX Energy

Taconic Capital Advisors, WPX Energy: In an amended 13D just filed with the SEC, Frank Brosens’ Taconic Capital Advisors reported a 6.4% stake in WPX Energy Inc (NYSE:WPX). Shares of the oil and gas E&P are up more than 50% year-to-date, and this is identical to the position Taconic reported in its last 13F.

The purpose of the filing is in the details. Here’s what the fund had to say about WPX:

“The Reporting Persons continue to be focused on the performance of the Issuer as well as the Issuer’s use of leverage and development of a coherent strategy. The Reporting Persons have had constructive discussions with the Issuer’s management and Chairman to explore these issues and discuss possible solutions. The Reporting Persons believe they have valuable insights to contribute to the development of the business and business strategy and intend to have further discussions with management, the Board of Directors of the Issuer, other shareholders of the Issuer, potential strategic partners, financial advisors and other relevant parties relating to the Issuer’s business, operations, strategy, strategic alternatives, future plans, corporate governance and related matters.”

Frank BrosensDisclosure: none