SRZ Advises TPG-Axon in Successful Activist Campaign Against SandRidge Energy

SRZ represented global investment manager TPG-Axon Capital Management LP in its successful activist campaign with NYSE-listed SandRidge Energy Inc. TPG-Axon, which holds a 7.3 percent stake in the Oklahoma City-based oil and gas exploration company, conducted a consent solicitation to remove and replace the company's board. On March 13, 2013, SandRidge agreed to settle, resulting in the immediate addition of four TPG-Axon nominees to the board. The settlement also called for an independent third-party review of the SandRidge CEO — whose interests in another company and compensation were viewed as being contrary to shareholder interests — that resulted in his replacement in June 2013.

The SRZ team included mergers & acquisitions partner Marc Weingarten and litigation partner Michael E. Swartz.