Sandridge Energy (NYSE: SD) has been embattled recently, with first one shareholder group and then a second emerging to say that they had no confidence in Sandridge's leadership, and that they wanted a big change in upper management. Yesterday, however, Perm Watsa of Fairfax Financial Holdings declared support for Sandridge CEO Tom Ward and said he has positioned the company well for the long term. In response to the conflict, Sandridge has implemented a "poison pill" safeguard against a hostile takeover bid.
In this video, Motley Fool energy analyst Taylor Muckerman details what that plan entails, what some of the shareholder grievances are, and how this conflict will affect the company going forward.
Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool has options on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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