Vote on SandRidge directors due March 15

SandRidge and its shareholder TPG-Axon now agree on the timing of a vote to replace the company's directors. The votes must be in by March 15.
Published: January 17, 2013
Advertisement
;

In brief

SandRidge voting ends on March 15

SandRidge Energy Inc. has settled at least part of its dispute with shareholder TPG-Axon, which is trying to replace the Oklahoma City energy company's directors. The two groups now agree on when the 60-day voting period began.

Under terms of agreement, voting began Jan. 16 and will end March 15. All consent votes received before Jan. 16 will not be counted.

TPG-Axon, which owns 6.7 percent of SandRidge stock, has said the energy company is poorly managed and has asked shareholders to force a management change.

SandRidge has called TPG-Axon an “opportunistic investor with short-term interest” and has asked shareholders to reject the shareholder effort.

From staff reports