Carl Icahn has bought a 13 percent stake in SandRidge Energy, becoming the latest shareholder to oppose the company’s deal to acquire Bonanza Creek, according to a Securities and Exchange Commission filing.

SandRidge is an oil exploration and production company based in Oklahoma City. Last week, it announced a $746 million deal to buy rival Bonanza Creek. But the activist investor Fir Tree Partners, which owns more than 8 percent of SandRidge, on Monday said it opposed the deal, saying the price is too high.

Icahn also has stakes in CVR Energy and Cheniere Energy.

Dow Jones first reported the stake, citing sources.

Source link

Products You May Like

Articles You May Like

Worldpay and Visa reversing duplicate transactions for Coinbase users
Salesforce shares rise after Jefferies upgrades stock, predicts 20% rally
Stocks could see another, deeper 15% correction in 2018: Jim Paulsen
CBS earnings Q4 2017
WisdomTree shares pop on report of JP Morgan interest in buying an ETF firm

Leave a Reply

Your email address will not be published. Required fields are marked *