Icahn steps up fight against SandRidge's plan to buy Bonanza Creek
Reuters
Published Dec 15, 2017 09:23AM ET
Icahn steps up fight against SandRidge's plan to buy Bonanza Creek
(Reuters) - Activist investor Carl Icahn on Friday urged SandRidge Energy Inc's (N:SD) stockholders to vote against the oil and gas company's plan to issue shares for its proposed acquisition of Bonanza Creek Energy (N:BCEI).
Icahn, SandRidge's biggest shareholder with a 13.5 percent stake, has called SandRidge's $746 million offer – $19.20 per share in cash and $16.80 in stock – for Bonanza Creek "value-destroying."
Several other holders including Fir Tree Partners and Susquehanna Advisors Group have come out against the purchase.
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Written By: Reuters
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