Reuters: Mergers News: UPDATE 1-Halcón Resources to buy GeoResources for $973 mln

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UPDATE 1-Halcón Resources to buy GeoResources for $973 mln Apr 25th 2012, 12:00 April 25 | Wed Apr 25, 2012 8:00am EDT April 25 (Reuters) - Halcón Resources Corp said it will buy GeoResources Inc for about $973.1 million in cash and stock to gain access to liquids plays in the United States. GeoResources shareholders will receive $20 in cash and 1.932 Halcón Resources shares for each share they own. The offer represents a 23 percent premium to GeoResources stock's Tuesday close of $30.77 on the Nasdaq. The deal, expected to close in the third quarter, will increase Halcón's estimated proved reserves by over 150 percent. More than two-thirds of the acreage is liquids rich. Barclays and Mitchell Energy Advisors advised Halcón Resources while Wells Fargo Securities advised GeoResources.

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