Arena Resources (ARD) volatility elevated into shareholder merger vote with SandRidge
Arena Resources (NYSE: ARD) and SandRidge Energy (NYSE: SD) shareholders merger votes are set for July 16 for SD to acquire ARD. ARD shares will be converted in the merger into the right to receive 4.7771 shares of SD common stock plus $4.50 per share in cash. ARD overall option implied volatility of 60 is above its six-month average of 42, according to Track Data, suggesting larger price movement. Paul Foster
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