UPDATE 3-Icahn nominates five to replace entire SandRidge board

From Reuters - April 16, 2018

HOUSTON (Reuters) - Billionaire activist investor Carl Icahn on Monday nominated a five-person slate of his employees and business associates to replace the SandRidge Energy Inc (SD.N) board of directors, escalating his fight for control of the U.S. shale oil producer.

The move sets up a showdown at SandRidges 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 SandRidges leadership, at one point accusing it of an apparent disregard for any semblance of accountability.

He has successfully scuttled SandRidges planned buyout of rival Bonanza Creek Energy Inc (BCEI.N) and forced the removal of the companys chief executive and finance chief.

Now, Icahn has set his sights on the companys board.

A SandRidge spokesperson said the company will be reviewing Icahns proposed candidates and declined further comment.

Icahn, who waited until a Monday deadline to nominate his slate, did not immediately respond to a request for comment.

Shares of Oklahoma City-based SandRidge, which produces oil in Oklahoma and Colorado, were off a penny at $14.64 in afternoon trading on Monday.



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