WL Ross Ups Stake in Exco Resources

Buyout shop WL Ross & Co. has increased its stake in Exco Resources by 2%, and now owns about 12% of the Dallas-based oil and gas producer, Reuters reported Monday. WL Ross is the second largest shareholder in Exco. The company recently said that Ross could not own more than 20% of outstanding shares. Exco has been a takeover target since last fall, when oilman T. Boone Pickens and other investors bid $4.36 billion for it, Reuters wrote.

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