SandRidge Energy rejects Icahn’s proposal to replace directors

(Reuters) – SandRidge Energy Inc said on Tuesday it was not in the shale oil producer’s best interest to accept activist investor Carl Icahn’s proposal to replace two of its five directors.

Earlier this month, Icahn, SandRidge’s largest shareholder, asked the company to replace two directors, with one designated by him and the second by other large shareholders.

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