{
  "docId": "019dd923-622b-71dc-a6dc-2ebffcf637e2",
  "docSlug": "ef179647d85b",
  "documentTitle": "SandRidge Energy (SD)",
  "authorId": "14_Icahn",
  "authorName": "Carl C. Icahn",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-05-24 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 13,
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  "notes": "The slide uses a two-column layout to contrast the board's dismissal with the strategic rationale for the merger.",
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      "kind": "callout",
      "text": "Midstates Rationale",
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      "kind": "callout",
      "text": "Despite the obvious potential fit, the board presumably dismissed the transaction to entrench itself, as Midstates publicly stated they would be open to replacing the board with shareholder representation.",
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      "kind": "list",
      "text": "On February 6, 2018, Midstates Petroleum... announced an offer to merge... It is our understanding that Midstates was forced to make the offer public... SandRidge flatly rejected the offer... board presumably dismissed the transaction to entrench itself",
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      "kind": "list",
      "text": "$70 million in potential synergies; Significant overlapping acreage; Shared experience; Management team with track record; Increased market liquidity; Board open to shareholder representation",
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      "kind": "title",
      "text": "The Current Board's Track Record",
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      "kind": "title",
      "text": "Midstates Dismissal",
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      "name": "Cost Of Inaction",
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