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SandRidge investor again calls for possible sale, board revamp

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updated 11/30/2012 10:50:26 AM ET 2012-11-30T15:50:26

(Reuters) - A large investor in SandRidge Energy Inc is again calling for the oil and gas company to consider selling itself or significantly restructuring operations to boost the stock price.

Hedge fund TPG-Axon, which said it owns 6.5 percent of SandRidge shares, sent a second letter to SandRidge on Friday outlining a plan to ask SandRidge shareholders to replace the entire board and de-stagger the board's composition.

Shares of SandRidge rose 1.6 percent to $5.76 in Friday morning trading.

(Reporting By Ernest Scheyder; Editing by Gerald E. McCormick)

(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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