THRC Holdings to vote in favor of Diamondback-QEP Resources all-stock deal

THRC Holdings LP, owner of 5.84% of QEP Resources Inc.'s total outstanding shares, will vote in favor of Diamondback Energy Inc.'s proposed $2.2 billion acquisition of QEP.

THRC Holdings said in a March 12 news release that it believes that the planned merger presents long-term value for QEP's shareholders. "[T]his transaction provides a number of synergies that are hard for us to ignore, and we believe the combined production along with the decreased leverage created in this transaction will allow a successful path forward for the combined company," THRC Holdings said.

The shareholder said it will vote for the deal ahead of the March 16 special meeting.

On March 11, QEP announced that an independent proxy advisory firm reaffirmed support for the planned acquisition, after another shareholder said earlier that day that it had voted against the deal.