Current SD Stock Info

Icahn’s activism produces results
SandRidge (ticker: SD) and Bonanza Creek (ticker: BCEI) have terminated the previously-announced merger agreement, ending the largest U.S. deal in five months.

The $746 million SandRidge-Bonanza Creek merger would have created a major player in the DJ Basin, but a 17.4% premium was deemed too high. While SandRidge only paid about $2,500 per acre, far below the $30,000 and higher seen in the Permian this year, the purchase price equated to $47,215 per flowing BOE and $8.19 per BOE of reserves.

Activist i...


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