1. In Icahn-SandRidge Tiff, Bitter Words Hide Overlapping Goal

    In Icahn-SandRidge Tiff, Bitter Words Hide Overlapping Goal

    (Bloomberg) -- The oil industry’s ugliest battle is heading for a climax in Oklahoma City on Tuesday. But SandRidge Energy Inc. is probably bound for the auction block anyway. Whether SandRidge or activist investor Carl Icahn wins control of the board this week, the oil and natural gas explorer is expected to sell some or all of its drilling rights as it tries to reverse a long slide in its market value, according to David Beard, an analyst with New Orleans investment manager Coker & Palmer Inc. Icahn is seeking to replace the entire seven-member board at Oklahoma-based SandRidge, which has ...

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    1. Icahn and the management team are probably closer than a lot of these fights would suggest.
    2. If Icahn gets his way by seizing control of or placing his non-independent nominees on the board, he will be in a position to simultaneously run and bid for the company -- putting his interests ahead of other shareholders.
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