Federal Trade Commission terminates HSR wait early in merger of Stone Energy, Bois d'Arc Energy

By Lisa Kerner

Charlotte, N.C., June 9 - The proposed acquisition of Bois d'Arc Energy, Inc. by Stone Energy Corp. was granted early termination of the Hart-Scott-Rodino waiting period by the Federal Trade Commission, a government statement noted.

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

Under the terms of the companies' definitive merger agreement, 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.

The companies had said they expected the transaction to close in the third quarter of 2008.

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 said Comstock Resources, Inc., with a 49% stake in the company, agreed to vote in favor of the merger.

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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