Ceo said looking at Gulf &US with the 7 bill. he received from Egypt sale,hope SD is at the top of his list,most shareholders are burnt out sticking with this company and just want to be put out of their missery.This is one of the few companies that shows so much promise but no matter what good they do the pps never follows,TPG has been quiet too long,thought they had a buyer on the line when they started to get rid of Ward. In my scorecard its Ward 10,tpg &company 0 in the fifth inning with four innings to go.
a buyout at $9 and paying off the debt would cost about 6.3 billion, according to my quick calcs. i'd sure like to know who (if anyone) sd is dancing with at night and if they're getting past the petting stage and ready do do the nasty :)
You need to look at the balance sheet and rethink your figures medic. Total liabilities 7.4 Billion. A buyout at 10 Billion would give you about $5 a share. That's a big problem for the bagholders. Since the assets are only worth 9.8b. Unless oil and gas skyrocket, sd is doomed to fail.
I get closer to $9 billion if the offer was $9 share for the common and convertible preferred. 588 million fully diluted shares at $9 is $5.4 billion for the equity. Then add in the debt payoff. Debt roughly $3.2 billion at end of last quarter.