Skip to Main Content

Firm News

Chris Hewitt Comments to Oil Daily on SandRidge's "Poison Pill"

November 2017
Social Logo Social Logo Social Logo

Energy Intelligence Group's Oil Daily interviewed Chris Hewitt on SandRidge Energy's new shareholder rights plan — a "poison pill" mechanism to discourage corporate threats — adopted in response to billionaire investor Carl Icahn's recent interest in the company. Chris commented that he expects Icahn to challenge the legality of the plan.

"It looks like he's got a pretty good chance of challenging this thing," Chris said. "I have not seen a pill used to stop someone from acquiring stock and then talk to other shareholders to vote down a deal."

“For what Icahn has been doing recently — buying a foothold stake in the company and agitating for change — a lot of times pills don’t work in that context because the acquirer doesn’t have the intention of acquiring the whole company or going over the pill threshold,” he added.

Read the article here.

Related Attorneys

Related Article

Winners Are Forged in the Fire of Economic Duress More
Driverless
A podcast that analyzes legal issues surrounding autonomous vehicles.
ERISA
Perspectives on employee benefits, executive compensation and ERISA litigation to help you attract and retain talent.
lingua negoti
The language of business.
Ohio Environmental
Insights and commentary for the business and legal community.