Under Pressure From Jana, Oil States Mulls Asset Spinoff

Law360, New York (May 3, 2013, 4:14 PM EDT) -- Oilfield servicer Oil States International Inc. confirmed Friday it is contemplating splitting off its accommodations business, potentially into a real estate investment trust, yielding to pressure from an activist investor that late last month scooped up a sizable stake in the company.

When it dropped $340 million on a 9.1 percent Oil States stake late last month, New York hedge fund Jana Partners LLC said the company’s shares are undervalued and could benefit from unit spinoffs, including a potential separation of the accommodations business.

The unit...
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