SandRidge Energy adopts shareholder rights plan

Mon Nov 19, 2012 4:23pm EST

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Nov 19 (Reuters) - SandRidge Energy Inc, a U.S. oil and gas company under fire from shareholders about company performance, said on Monday its board of directors adopted a shareholder rights plan to fend off possible takeover attempts.

The plan is "designed to assure that all of SandRidge's stockholders receive fair and equal treatment in the event of any proposed takeover of the company," SandRidge said in a statement.

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