Story perspectives
Toms Capital Urges Devon Energy Strategic Alternatives Sale Review
By Drooid · · How we work
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Story summary
- Toms Capital Management urged Devon Energy to review strategic alternatives, including a sale.
- Toms Capital Management now ranks among Devon’s five largest shareholders.
- Toms claims the May merger created a valuation discount of at least one multiple point versus peers.
- Devon’s stock trades at roughly 4.5 times its 2027 estimated EBITDA.
- Toms has enlisted litigator Alex Spiro to support its campaign.