NEW YORK, Sept. 18, 2017 /PRNewswire/ -- Fir Tree
Partners ("Fir Tree"), a $9.4 billion
private investment firm and manager of certain funds that together
are the largest stockholder of Ultra Petroleum Corporation ("UPL"
or the "Company") (NASDAQ: UPL), announced today its
intention to immediately engage with Company management to pursue
value-maximizing strategic alternatives for UPL.
"Fir Tree has deep experience working collaboratively with
management teams and we are excited to engage with UPL on a variety
of initiatives in order to maximize stockholder value," said
Clinton Biondo, Managing Director at
Fir Tree.
"UPL is the most attractive natural gas company in the U.S. and
trades at a substantial and unwarranted discount to its pure play
comps. Its deep, low-cost inventory, significant resource
growth potential and absence of throughput issues that plague its
Northeast peers is fully unrecognized in its current share price,"
said Evan Lederman, Managing
Director at Fir Tree.
Fir Tree has retained an investment bank to provide it with
financial advice regarding certain strategic alternatives for
UPL.
Fir Tree has direct control over approximately 18.53% of Common
Shares and total economic interest in approximately 22.12% of
Common Shares of UPL.
About Fir Tree Partners
Fir Tree Partners, founded in
1994 and located in New York City
(HQ) and Miami, is a
value-oriented investment manager that manages private investment
funds for endowments, charitable and philanthropic foundations,
pension funds and other institutional and private investors. Fir
Tree manages approximately $9.4
billion, invested worldwide in public and private companies
across a wide variety of sectors and securities.
For More Information Contact:
Scott Tagliarino or Taylor Ingraham
ASC Advisors LLC
(203) 992-1230
View original
content:http://www.prnewswire.com/news-releases/fir-tree-partners-announces-intention-to-pursue-value-maximizing-strategic-alternatives-for-ultra-petroleum-corp-300520931.html
SOURCE Fir Tree Partners