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Activist Investor Pushing For Carrizo To Merge Or Sell

by rigzone.com posted 2months ago 13 views
Shares of Houston-based Carrizo have fallen by about 43 percent over the past 12 months. : (Bloomberg) -- 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.

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