Seeking Alpha

SandRidge Energy (SD) +5.8% premarket after receiving a letter from TPG-Axon calling for a...

SandRidge Energy (SD) +5.8% premarket after receiving a letter from TPG-Axon calling for a realignment of its board, the resignation of CEO Tom Ward and a potential sale of the company. Fair value for shares is $12-$14, the letter says, with "significantly greater upside possible through a strategic sale or sensible development of assets." The hedge fund owns more than 4.5% of SD's outstanding shares.
Comments (6)
  • WHAT WOULD TOM DO WITHOUT HIS $25,000,000.00 SALARY?
    8 Nov 2012, 09:14 AM Reply Like
  • If i started SD from the ground up I'd want a salary like that too
    8 Nov 2012, 09:40 AM Reply Like
  • 12$ a share isn't possible. what a joke
    8 Nov 2012, 09:40 AM Reply Like
  • I will take $12-14 right now for my shares.........count me in
    8 Nov 2012, 09:41 AM Reply Like
  • Pump and run! Remember AA and D. Trump.
    8 Nov 2012, 01:31 PM Reply Like
  • Throw Tom Ward out ASAP, put in a new board and watch this company jump just like CHK did once Icahn got involved and CHK cleaned house at the Board level.

     

    Tom Ward is abysimal and has hurt shareholder value more than any other CEO. Sorry Tom, once you go public you don't get to bleed the company dry just because you're the founder. I hope TPG squeezes the hell out of these guys; I 10,000 shares ready to vote for change and I'm sure many other SD holders are sick of this greatly underperforming stock run by a bunch of amateurs.
    9 Nov 2012, 07:27 AM Reply Like
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