UPDATE: Dan Loeb to go 'Active' on Murphy Oil (MUR) - CNBC

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(Updated - October 3, 2012 3:29 PM EDT)

CNBC reports Dan Loeb and his Third Point hedge fund may go active on Murphy Oil Corporation (NYSE: MUR) and has now accumulated a stake at or above 5%.

Loeb wants the company to spin-off its retail business, sell its Canadian assets, sell its 5% stake in Syncrude Oil Sands project, complete UK refining business exit.

As noted at StreetInsider.com, Loeb first disclosed a stake of 1.5 million shares last night in an amended 13F filing after confidential treatment with the SEC ended. He owned the stake as of June 30, 2012.

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