Friday, July 16, 2010

Shareholders Approve SandRidge (NYSE:SD) and Arena Resources (NYSE:ARD) Merger, Deal Closed

The merger between SandRidge (NYSE:SD) and Arena Resources (NYSE:ARD) was finalized today, as shareholders of each company gave approval to go forward with the deal, which was closed soon afterwards.

Today will be the final trading day of common stock of Arena on the New York Stock Exchange, which will stop after the close today.

From Arena's standpoint, their shareholders approved the merger, while Sandridge shareholders gave approval to issue SandRidge common stock to Arena stockholders as part of the merger proposal and to change SandRidge's certificate of incorporation to increase the number of authorized shares of its capital stock.

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