FT reports that US investor Kimmeridge has offered $6 billion to gas driller Ascent Resources

The Financial Times reported that activist investment firm Kimmeridge Energy Management had made a $6 billion bid to buy Ascent Resources.

FT reported that the bid was the latest attempt to stop Energy & Minerals Group (EMG), a private equity firm backing Ascent, from selling a stake of more than 30% in the company to another fund, valuing Ascent as high as $5.5 billion.

Ben Dell, managing partner of Kimmeridge in the United States, told the newspaper that "our view is this?is a significant price premium over the valuation proposed for the continuation funds".

According to the report, Ascent must offer Kimmeridge exclusive negotiations for 60 days and that this offer is subjected to due diligence. Kimmeridge also offers existing Ascent investors a chance to 'participate' in the takeover by acquiring a stake of up to 49%.

Kimmeridge and Ascent Resources didn't immediately respond to the'request for comment. Could not verify the report immediately.

The FT article comes after Mason Capital, a U.S. investment?fund, said last week that it was willing to evaluate a cash-only offer for Ascent with?a superior value than the EMG deal.

According to its website, Ascent Resources is the largest natural gas producer in Ohio and one of the 'largest private-held exploration and production firms in the U.S.

Kimmeridge, an energy investor, focuses on unconventional U.S. gas and oil assets. It bought a stake in Devon Energy, a shale gas producer earlier this year.

(source: Reuters)