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Icahn in activist move takes 13% stake in SandRidge Energy, DJ reports

Key Points
  • Icahn joins Fir Tree Partners protesting the deal for Bonanza Creek as too expensive.
  • Icahn's other energy holdings include CVR Energy and Cheniere Energy.
Icahn buys 13% stake in Sandridge Energy: Dow Jones

Carl Icahn has bought a 13 percent stake in SandRidge Energy, becoming the latest shareholder to oppose the company's deal to acquire Bonanza Creek, according to a Securities and Exchange Commission filing.

SandRidge is an oil exploration and production company based in Oklahoma City. Last week, it announced a $746 million deal to buy rival Bonanza Creek. But the activist investor Fir Tree Partners, which owns more than 8 percent of SandRidge, on Monday said it opposed the deal, saying the price is too high.

Icahn also has stakes in CVR Energy and Cheniere Energy.

Dow Jones first reported the stake, citing sources.