Soros Raises Penn Virginia Stake, Wants Management To Consider Options
Shares of Penn Virginia (NYSE: PVA) are up a massive 15.4 percent to $15.71 on Tuesday after Soros Fund Management filed a 13D that showed a raised stake of Penn Virginia from 8.92 percent to 9.18 percent as of December 31, 2013.
In the filing, Soros Fund Management said financial incentives for Penn Virginia's management team should be enhanced, but management should explore strategic alternatives as a means to enhance or maximize shareholder value.
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