1. SandRidge Energy Directors Reject Icahn Demands

    SandRidge Energy Directors Reject Icahn Demands

    SandRidge Energy Inc. directors on Tuesday rejected activist investor Carl Icahn's calls to shake up the board. In an open letter to SandRidge shareholders, the board's independent directors said they met last week with Icahn and other shareholders and said Icahn's proposals are not in the best interest of the majority of the company's stockholders...

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    1. The board believes that changes to the composition of the board of directors and other major governance changes, as proposed by Mr. Icahn, should be made with the fully informed approval of a majority of all the company's shareholders, rather than at the behest of one.
    2. We were obviously pleased that you made the wise choice to terminate the Bonanza merger agreement, but we still have grave concerns about many of the things this board of directors has permitted to happen at SandRidge.
    3. We look forward to continuing expanded dialogue with all of our shareholders.
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