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News Breaks | | | | November 13, 2012 | | 15:32 EDT |  | SD | TPG-Axon reports 4.7% stake in SandRidge Energy, urges potential sale
On November 8, TPG sent a letter to the board of directors of SandRidge expressing their view that the common stock is currently significantly undervalued in the market. The letter also expressed increasing concern with management's inability to maximize potential value for stockholders and set forth the TPG's belief that SandRidge should reconstitute the Board to include shareholder representatives and other credible independent directors, replace the current CEO and engage an advisor to explore strategic alternatives available to SandRidge, including a potential sale. | |
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