In the Margins

Icahn's reputation at stake in SandRidge proxy fight

June 15, 2018

By Reuters

When SandRidge Energy shareholders on Tuesday cast their votes for directors, the only question is how much sway over the embattled oil and gas producer they will hand to activist investor Carl Icahn. Icahn, whose hedge fund owns 13.6% of SandRidge and has said it could make an all-cash offer for the company, is assured of at least two of the seven seats under the formula set by the board and is expected to receive more. He is staking his reputation by pushing for a straight vote on his seven-person slate to manage a sale of the $544 million company after setbacks at Chesapeake Energy Corp. Read the original story from Reuters.



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