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Mangrove Partners raises Penn Virginia stake to 11.5 percent, opposes Denbury deal

( January 3, 2019, 23:22 GMT | Official Statement) -- MLex Summary: Activist fund Mangrove Partners has again increased its stake in oil driller Penn Virginia, now to around 11.5 percent. In a securities filing today, Mangrove said it increased its stake from 11.1 percent, purchasing 30,000 shares to bring its total Penn Virginia holdings to nearly 1.73 million shares. In November, the fund demanded the oil driller scrap its merger with Denbury Resources and warned that it will launch a proxy fight unless the deal is terminated.See document below....

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