February 6, 2018 / 11:18 AM / in 14 days

Midstates Petroleum offers to merge with SandRidge Energy

Feb 6 (Reuters) - U.S. oil and gas producer Midstates Petroleum Company Inc on Tuesday offered to merge with larger rival SandRidge Energy Inc in an all-stock deal.

Under the proposed merger, SandRidge shareholders would own about 60 percent of the combined company, while Midstates stockholders would own the rest, Midstates said in a letter to SandRidge. (Reporting by John Benny in Bengaluru; Editing by Sai Sachin Ravikumar)

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