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Stock Market & Financial Investment News

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December 18, 2013
07:03 EDTWPXWPX Energy reaches agreement with Taconic Capital Advisors
WPX Energy has reached an agreement with Taconic Capital Advisors, the companys second largest shareholder, which owns 6.9% of WPXs outstanding shares, as part of which WPX will increase the size of its board of directors from 11 to 12 on or before Jan. 10, 2014. The newly created board seat will be filled by one of two independent candidates with significant oil and gas exploration and production experience provided by Taconic and currently under consideration. The new member will be added to the existing search committee for WPXs new CEO. Taconic has agreed to, among other things, vote their shares in support of all of the boards director nominees at WPXs 2014 annual meeting of shareholders.
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