November 15, 2017 / 12:48 PM / a month ago

BRIEF-SandRidge Energy to acquire Bonanza Creek Energy in deal worth $746 mln​

Nov 15 (Reuters) - SandRidge Energy Inc

* SandRidge Energy to acquire Bonanza Creek Energy for $36.00 per share in cash and stock

* SandRidge Energy Inc - ‍deal consideration consists of $19.20 in cash and $16.80 of SandRidge shares for each Bonanza Creek Share​

* SandRidge Energy Inc - ‍acquisition will be accretive to cash flow per share​

* SandRidge Energy Inc - ‍purchase price for deal implies a total transaction value of approximately $746 million​

* SandRidge Energy - ‍combined SandRidge-Bonanza Creek to operate over 630,000 net acres focused in Rockies and mid-continent as of September 30, 2017​

* SandRidge Energy Inc - ‍one of independent directors of Bonanza Creek will be joining board of directors of Sandridge​

* SandRidge Energy Inc - ‍purchase price for deal is comprised of $398 million in cash and 18.89 million shares of Sandridge stock​

* SandRidge Energy Inc - post deal, shareholders of Bonanza Creek are expected to own between about 31.4% and 35.8% of outstanding shares of co​

* SandRidge Energy Inc - ‍boards of directors of Sandridge energy and Bonanza Creek Energy​ have unanimously approved terms of agreement

* SandRidge Energy Inc - deal ‍expected to be accretive to cash flow beginning in 2018​

* SandRidge Energy Inc - ‍deal expected to be accretive to cash flow beginning in 2018​

* SandRidge Energy - ‍stock portion will be subject to collar based on VWAP of co’s shares over 20 business days ending on 3rd day before closing​ Source text for Eikon: Further company coverage:

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