Tuesday, April 24, 2007

Loeb's Third Point LLC Discloses 8.1% Passive Stake in ATP Oil & Gas (ATPG)

In a 13G filing after the close on ATP Oil & Gas Corp. (Nasdaq: ATPG), Dan Loeb's Third Point LLC disclosed an 8.1% stake (2.45 million shares) in the company. The firm did not show a stake in ATPG for the quarter ended December 31, 2006.

While the 13G filing indicates a passive stake, Loeb is a known activist investor.

ATP Oil & Gas is an international offshore oil and gas development and production company with operations in the Gulf of Mexico and the North Sea.

Shares of ATP Oil & Gas are up 6% in early trading.

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