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Court blocks Sandridge from impeding TPG consent solicitations
2013年3月8日 / 晚上8点55分 / 5 年前

Court blocks Sandridge from impeding TPG consent solicitations

March 8 (Reuters) - The board of Sandridge Energy Inc was barred by a Delaware judge on Friday from impeding a campaign by hedge fund TPG-Axon to replace the company’s board.

TPG-Axon has been seeking solicitations from shareholders to allow it to destagger and replace Sandridge’s board, and Sandridge has been seeking to revoke those consents.

Delaware Court of Chancery Judge Leo Strine wrote in a 38-page opinion that the company’s board was barred from seeking further consent revocations or from relying upon revocations it had received.

Sandridge and TPG did not immediately respond to a request for comment.

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