Delta Petroleum investor Kerkorian applauds strategic review decision

By Lisa Kerner

Charlotte, N.C., Dec. 1 - Delta Petroleum Corp. shareholder Tracinda Corp. agrees with the company's decision to hire Morgan Stanley and Evercore Partners to evaluate strategic alternatives to enhance shareholder value, according to a schedule 13D/A filed on Tuesday with the Securities and Exchange Commission.

The company announced on Monday it will consider alternatives including the sale of the company or some or all of its assets as well as partnerships and joint venture opportunities.

Kirk Kerkorian's Tracinda beneficially owns 93,797,701 shares, or 33.9%, of the Denver oil and gas exploration company's outstanding stock.

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