SandRidge Energy Inc. said late Tuesday its board of directors has turned down a plan from activist investor Carl Icahn that sought to make changes on its board and modify some of the bylaws. The company reached that decision after board members met with “several large shareholders” to discuss their input, SandRidge said in a letter to shareholders. Icahn had called for the resignation of two out of five board members and wanted his firm to appoint a new director. Icahn is SandRidge’s largest shareholder with a 13.5% stake. Icahn and other investors had also criticized the company for its bid for Bonanza Creek Energy Inc. , a deal SandRidge later dropped. SandRidge shares were flat in late trading after ending the regular session down 0.1%.
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