TPG-Axon Moves Ahead With Plan to Oust SandRidge Board

Reuters – Hedge fund TPG-Axon moved ahead with its effort to oust the board of U.S. oil and gas company SandRidge Energy Inc., saying it would file consent solicitation documents with U.S. regulators on Monday [Dec. 24].

TPG-Axon, which owns 6.7 percent of SandRidge, said in its third letter to the company’s board, dated Dec. 24, that the fund is giving shareholders a chance to “terminate your reign of value destruction.” The fund revealed its plan last month.

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