SandRidge Energy rejects takeover bids, saying they undervalue company | Reuters

(Reuters) – U.S. shale oil producer SandRidge Energy Inc (SD.N) said on Monday it had ended its strategic review and rejected all bids, saying they undervalued the company.

SandRidge Energy’ implied liquidation value, obtained by totaling the highest cash bids, amounted to about $12 to $13 per share, which “meaningfully undervalues” the company, it said in a statement. The company’s shares, which closed at $14.30 on Monday, gained 11 percent so far this year.

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