December 15, 2017 / 2:26 PM / a month ago

Icahn steps up fight against SandRidge's plan to buy Bonanza Creek

(Reuters) - Activist investor Carl Icahn on Friday urged SandRidge Energy Inc’s (SD.N) stockholders to vote against the oil and gas company’s plan to issue shares for its proposed acquisition of Bonanza Creek Energy (BCEI.N).

    Icahn, SandRidge's biggest shareholder with a 13.5 percent stake, has called SandRidge's $746 million offer – $19.20 per share in cash and $16.80 in stock – for Bonanza Creek "value-destroying." (bit.ly/2zeUPVW)

    Several other holders including Fir Tree Partners and Susquehanna Advisors Group have come out against the purchase.

    Reporting by Taenaz Shakir in Bengaluru; Editing by Savio D'Souza

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