SandRidge Defuses TPG-Axon Board Attack, Opens CEO Review

Law360, New York (March 13, 2013, 10:01 PM EDT) -- SandRidge Energy Inc. struck a deal Wednesday to beat back a consent solicitation by private equity firm TPG-Axon Capital Management LP that threatened SandRidge's entire board, agreeing to add four TPG-Axon-backed directors and review the employment status of CEO Tom Ward.

SandRidge will add the four TPG-Axon nominees to the board immediately, it said. Separately, the board will complete a review of Ward's related-party transactions by June 15. 

The review, which will be conducted by an independent third party, will decide the fate of Ward. The...
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