SandRidge Energy Says Will Review Icahn's Nominees And Make Recommendation

(RTTNews) - Responding to Icahn Capital's intention to nominate directors to the SandRidge Board of Directors at the 2018 Annual Meeting of Shareholders, SandRidge Energy Inc. (SD) said that it welcomed shareholder input and will review all qualified candidates for nomination to the Board of Directors. SandRidge has specifically offered Icahn Capital, on more than one occasion, the opportunity to submit qualified, independent candidates for the Board's consideration. None have been put forth. To the extent Icahn Capital nominates any candidates for election at the Annual Meeting, the Nominating and Corporate Governance Committee will thoroughly review those candidates and make a recommendation to the shareholders.

In addition, as previously disclosed, SandRidge is undertaking a formal process to evaluate strategic alternatives, which may include divestment or joint venture opportunities associated with our North Park Basin assets and potential corporate and asset combination options with other companies. SandRidge will also evaluate credible offers to acquire the Company, including offers from Icahn Capital, and will pursue options that maximize shareholder value. To date, Icahn Capital has rejected SandRidge's offer to participate in this process on the same fair basis as other interested parties. SandRidge remains committed to conducting a thorough and impartial strategic review process that is in the best interest of all shareholders.

Last week, Carl Icahn said that it planned to nominate a full slate to the board of Sandridge Energy that would commit to seeking strategic alternatives for the company.