SandRidge Energy Issues Letter To Shareholders - Quick Facts

(RTTNews) - SandRidge Energy, Inc. (SD) announced its Board has strongly recommended that shareholders vote for all five of the company's directors at the 2018 Annual Meeting of Shareholders. The Board also recommended that shareholders vote for the addition of only two independent directors proposed by Carl C. Icahn and his affiliates. The Board has already offered to appoint John Lipinski and Randolph Read as directors in connection with a settlement proposal that Icahn refused.

The Board also recommended shareholders vote for the ratification of the continuation of the short-term shareholder rights plan through November 26, 2018 to protect shareholders from unfair, abusive or coercive takeover strategies, including acquisition of control without payment of an adequate premium.