Carl Icahn wins tussle with SandRidge as Bonanza deal is scrapped
Add BT as a preferred sourceCalgary
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.
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
MSCI drops S-E Asian heavyweights Sembcorp, GoTo and Ayala Land from global benchmarks
