That said, Sandridge is prime for a takeover. And with the oil and gas market where it is now, expect a lot of consolidation.
So there are a couple ways this could happen. Someone could buy the stock or buy the assets.
If the stock is purchased you assume the debt. You pay 250mm or more and assume over $3b in debt. So you are paying essentially $4b for what the market places a value of $250mm. Not a smart move.
If you buy the assets, the company is essentially liquidating the assets of the stuff that produces income. The stock holders will receive whatever proceeds are left after the debt holders are reimbursed. I doubt there will be anything left. I wouldn't want to be a shareholder in this case either.
Oh, and they are losing over $4 a share. They are burning through what cash they have left.
In other words, I doubt anyone in their right mind will come in and buy SD.