Carl Icahn wins tussle with SandRidge as Bonanza deal is scrapped
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Calgary
SANDRIDGE Energy Inc, succumbing to a campaign led by activist investor Carl Icahn, gave up on its proposed purchase of rival oil and natural gas explorer Bonanza Creek Energy Inc.
After consultation with its largest shareholders, the company's board concluded that it would not receive approval for the transaction at its planned special meeting, SandRidge said in a statement on Thursday.
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