Another investor for Oklahoma City-based SandRidge Energy calls for change
BY JAY F. MARKS NewsOK.com
Friday, November 16, 2012
OKLAHOMA CITY - The heat on SandRidge Energy Inc. is rising.
Another large institutional investor is questioning the company's leadership, calling for the ouster of CEO Tom Ward and changes to SandRidge's board.
“We believe that — properly managed — the company's assets are worth approximately $20 per share,” Mount Kellett Capital Management LP wrote Thursday in a letter to SandRidge's board. “Unfortunately, all we see now are critical failures of management and board oversight.
“SandRidge has not merely failed to even remotely maximize the potential of its assets, but it has destroyed stockholder value.”
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