January 23, 2018 / 9:44 PM / in 9 months

BRIEF-Sandridge Energy Rejects Icahn's Proposal To Replace Two Of Five Directors

Jan 23 (Reuters) - Sandridge Energy Inc:

* SANDRIDGE ENERGY ISSUES LETTER TO SHAREHOLDERS

* SANDRIDGE ENERGY INC - ISSUED A LETTER TO SHAREHOLDERS FOLLOWING ITS MEETINGS WITH LARGE SHAREHOLDERS LAST WEEK

* SANDRIDGE ENERGY - BOARD HAS DECIDED THAT “IT IS NOT IN BEST INTERESTS” TO ACCEPT ICAHN’S PROPOSAL TO REPLACE TWO OF FIVE DIRECTORS

* SANDRIDGE ENERGY- BOARD DECIDED “NOT IN BEST INTERESTS” TO ACCEPT ICAHN’S PROPOSAL TO CHANGE BYLAWS FOR SUPERMAJORITY VOTE ON MAJOR ACQUISITIONS, AMONG OTHERS

* SANDRIDGE ENERGY- DECIDED “NOT IN BEST INTERESTS” TO ACCEPT ICAHN’S PROPOSAL TO TERMINATE SHORT-TERM SHAREHOLDER RIGHTS PLAN OR RAISE TRIGGER TO 25%

* SANDRIDGE ENERGY - WITH RESPECT TO ICAHN’S PROPOSALS ON SHORT TERM RIGHTS PLAN, BOARD TO AMEND PLAN TO INCREASE TRIGGER THRESHOLD TO 15%

* SANDRIDGE ENERGY - WITH RESPECT TO ICAHN’S PROPOSALS ON SHORT TERM RIGHTS PLAN, BOARD ALSO DECIDED TO ELIMINATE “ACTING IN CONCERT” LANGUAGE

* SANDRIDGE ENERGY INC - “IN ANY EVENT, BOARD WILL READILY CONSIDER A PREMIUM TAKEOVER PROPOSAL FROM ANY PARTY, INCLUDING MR. ICAHN” Source text for Eikon: Further company coverage:

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