Stone Energy, Bois d'Arc merger set to close Thursday following shareholder approval

By Lisa Kerner

Charlotte, N.C., Aug. 27 - The merger of Stone Energy Corp. and Bois d'Arc Energy, Inc. is expected to close on Thursday after shareholders of both companies approved the transaction at separate special meetings on Wednesday.

Bois d'Arc stockholders will receive $13.65 in cash and 0.165 of a share of Stone Energy common stock for each share of Bois d'Arc common stock under the terms of the companies' definitive merger agreement.

Stone Energy said that 82.6% of its stockholders were represented at the special meeting, with approximately 97.3% of the shares represented voting in favor of a proposal to issue additional shares of Stone Energy common stock.

According to Bois d'Arc, 92.1% of its stockholders were represented at its meeting. Approximately 99.7% of the shares represented voted in favor of the merger, a Stone Energy news release said.

It was previously reported that Stone Energy would acquire Bois d'Arc in a cash and stock deal valued at approximately $1.8 billion.

Stone Energy stockholders will own 72% of the combined company, with Bois d'Arc stockholders owing the remaining 28% once the merger is complete.

Bois d'Arc, based in Houston, and Stone Energy, located in Lafayette, La., are independent oil and natural gas exploration companies.

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