March 19 (Reuters) - Oil and gas producer SandRidge EnergyInc on Monday rejected smaller rival Midstates PetroleumCo Inc's all-stock bid, calling the offer "highlydilutive".
However, the company said it had received interest regarding"alternative transactions" from other producers. SandRidge didnot provide further details.
"Midstates Petroleum continues to believe in the merits ofthe SandRidge Energy transaction proposed on Feb. 6, 2018.Midstates is considering its options with respect to thattransaction," Midstates Petroleum spokesman said.
SandRidge also said it would explore strategic options,including divestment or joint venture opportunities at its NorthPark Basin assets in
Under Midstates offer, SandRidge shareholders were to hold60 percent of the combined company.
SandRidge's shares fell 2.8 percent in aftermarket trading,while Midstates' stock was up 2.2 percent.(Reporting by John Benny in Bengaluru and Rishika Chatterjee inBengaluru; Editing by Shounak Dasgupta)