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SandRidge Energy to buy Bonanza Creek in a deal worth $746 mln
November 15, 2017 / 12:42 PM / a month ago

SandRidge Energy to buy Bonanza Creek in a deal worth $746 mln

Nov 15 (Reuters) - Oil and gas producer SandRidge Energy said on Wednesday it would buy rival Bonanza Creek in a cash-and-stock deal valued at $746 million.

SandRidge Energy’s offer of $36 per Bonanza Creek share is a 17.4 percent premium to the stock’s closing price on Tuesday.

The offer consists of $19.20 in cash and $16.80 of SandRidge shares for each Bonanza Creek share. (Reporting by Anirban Paul in Bengaluru; Editing by Arun Koyyur)

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