Carl Icahn plans a boardroom battle for SandRidge Energy as he advocates a sale

Activist investor Carl Icahn said on Wednesday he plans to nominate directors who would certainly push for a sale of SandRidge Energy in addition to may make an offer himself for the embattled Oklahoma City oil in addition to gas producer.

Icahn, who owns about 13.5 percent of SandRidge in addition to is usually the company’s single largest shareholder, said he had “grave concerns” about current directors’ ability to decide the company’s future in addition to will nominate his own slate at the annual meeting.

The current board “had a history of generating poor decisions on behalf of stockholders,” Icahn wrote in a filing with the U.S. Securities in addition to Exchange Commission.

Ashley Wilemon, a representative of SandRidge, said the company would certainly not comment on Icahn’s characterization of the board or proposal to nominate his own slate of directors.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

nine + five =