UPDATE 3-Activist Icahn gains control of board in proxy fight at SandRidge Energy [Reuters]
SandRidge Energy, Inc. (SD)
Last sandridge energy, inc. earnings: 2/21 04:15 pm
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Source: Reuters
Activist Icahn gains control of board in proxy fight at SandRidge Energy | Reuters 3 Min Read OKLAHOMA CITY (Reuters) - Activist investor Carl Icahn on Tuesday won a battle for control of SandRidge Energy, winning at least four of seven seats on the board of the U.S. shale producer that he wants to sell. Shareholders elected four of Icahn’s seven-person slate and two nominees put forth by the Oklahoma City, Oklahoma oil and gas company, according to preliminary results. The final director’s position was too close to call, a company spokesman said. SandRidge said in a statement that it reached an agreement with Icahn. “We look forward to working together in a constructive manner as we execute our plan and continue our strategic review process to maximize value for all SandRidge shareholders,” it said. The company’s poison pill and executive compensation plan were rejected by shareholders, another victory for Icahn, who had urged a “no” vote for both. Icahn, who owns a 13.6 percent stak
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