Olshan Activist Client Lone Star Value Calls For Review Of Strategic Alternatives At Callon Petroleum
The Wall Street Journal, The Deal Pipeline (subscription required) and other national media reported on Lone Star Value’s public call on oil and gas producer, Callon Petroleum, to avoid further shareholder dilution, cease all acquisition activity outside the Permian Basin and commence a review of strategic alternatives, including the sale of the company. Lone Star Value accused Callon Petroleum’s management of prematurely rebuffing overtures from potential acquirers. Lone Star Value recently launched an activist campaign seeking the election of its two candidates to the Board of Directors of Callon Petroleum at its upcoming 2014 annual meeting. Steve Wolosky and Ryan Nebel represent Lone Star Value in connection with its activist campaign at Callon Petroleum.