Elliott Management Corporation made a proposal to acquire QEP Resources, Inc. (NYSE:QEP) for $2.1 billion on January 7, 2019. Elliott Management made a proposal to acquire QEP Resources for $8.75 per share in cash. Elliott Management expect that they would finance the proposal and its related fees and expenses with a combination of available cash, assumption of debt, and debt financing from third-party lenders. Elliott has approximately $35 billion of capital under management and has more than adequate capital to consummate the acquisition. The proposal is conditioned on the closure of the Haynesville asset sale announced on November 19, 2018, but is not conditioned on the closure of the Williston asset sale announced on November 7, 2018. Evercore Inc. (NYSE:EVR) and Bmo Capital Markets, Llc acted as financial advisors and Latham & Watkins LLP and Wachtell, Lipton, Rosen & Katz LLP acted as legal advisors to QEP Resources. Olshan Frome Wolosky LLP acted as legal advisor to Elliott Management Corporation.