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Chris Hewitt Comments on Midstates Petroleum's Unsolicited Offer to SandRidge Energy

February 2018 - Oil Daily
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On February 7, Energy Intelligence Group's Oil Daily reported on Midstates Petroleum's all-stock offer to rival SandRidge Energy.

“A classic hostile strategy is to launch a proxy contest and a hostile tender offer at the same time. The proxy contest replaces the board to dismantle any defenses—including the pill—and then accept the exchange offer or recommend to shareholders that they accept the exchange offer,” Chris Hewitt said. “There is a veiled threat to go hostile if SandRidge doesn’t engage.”

Read the article here.

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