Dec 28 SandRidge Energy Inc urged its
shareholders to reject hedge fund TPG-Axon Capital's bid to oust
the board of the U.S. oil and gas company.
SandRidge said in a regulatory filing late on Thursday that
TPG-Axon, which currently owns about 6.7 percent of its stock,
is seeking to take control of SandRidge without having to pay a
"control premium to other shareholders." 
"None of the TPG-Axon Group nominees have any meaningful
experience drilling or operating onshore unconventional oil and
gas wells such as those being actively developed by the company
in the Mississippian play," SandRidge said.
TPG-Axon said in its third letter to SandRidge's board,
dated Dec. 24, that it was giving shareholders a chance to
"terminate your reign of value destruction". It said it would
file consent solicitation documents with U.S. regulators on
TPG-Axon said that after its consent solicitation was mailed
to shareholders in early January, stockholders of record as of
Dec. 13 would have up to 60 days to submit consent for
TPG-Axon and another large shareholder, Mount Kellett
Capital, have been pressing SandRidge to replace its board and
chief executive and for an outright sale of the company.
TPG-Axon had called for SandRidge to consider selling itself
and for Chief Executive Tom Ward to step down in November.