Singh having Raised TPG-Axon ownership to over 10%, TPG is starting to appear as a possible buyer of SD. My guess is they are strategically gaining control of enough stock within a group of partners to take control of the company at a very low premium over current stock price when it happens. The sum of the parts of SD may be much more valuable than the company as a whole if sold.
You are also failing to recognize the liability associated with a successful positioning into a fiduciary role to all shareholders. Singh and TPG are aligned with shareholders, as shareholders. Your scenario would not only create a hurricane of expensive legal domination for TPG but would also be counterproductive to the future of what they do as it would ruin their reputation as aggressive value investors to the point that they would never be able to gather shareholder votes for a proxy battle in the future.
along with ownership goes liability, ask BP what one deep water well mistake can cost ? Let's see where did that occur GOM ? If you're gonna play in water or take on liability "elephants" you better have really big and deep pockets. I agree with pmoneyless..TPG doesn't want to own SD.