HOUSTON - Billionaire activist investor Carl Icahn nominated a five-person slate of his employees and business associates to replace the SandRidge En
HOUSTON – Billionaire activist investor Carl Icahn nominated a five-person slate of his employees and business associates to replace the SandRidge Energy Inc (SD.N) board of directors on Monday, escalating his fight for control of the U.S. shale oil producer.
The move sets up a showdown at SandRidge’s annual meeting later this year between the existing board and the hard-driving investor who has been trying to force the company to sell itself outright to either himself or another potential bidder.
Icahn has spent recent months blasting SandRidge’s leadership, at one point caustically charging it held an “apparently disregard for any semblance of accountability.”
He has successfully scuttled SandRidge’s planned buyout of rival Bonanza Creek Energy Inc (BCEI.N) and forced the removal of the company’s chief executive and finance chief.
Now, Icahn has set his sights on the company’s board.