Covington Counsels SandRidge In $6.2B Arena Deal
SandRidge will shell out $2.50 in cash and 4.78 shares of SandRidge stock for each share of Arena common stock , the companies announced Sunday. That exchange values Arena at about $40 per share, SandRidge said, giving shareholders a 17 percent premium over Thursday's closing price.
Picking up Arena is part of a larger strategy to delve deeper...
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