Halcón (HK), GeoResources (GEOI) Receive Shareholder Approval in Proposed Merger

July 31, 2012 4:59 PM EDT
Halcón Resources Corporation (NYSE: HK) and GeoResources, Inc. (Nasdaq: GEOI) announced that each company has received the necessary approvals from their respective stockholders to authorize GeoResources’ merger with a wholly owned subsidiary of Halcón pursuant to the previously announced Agreement and Plan of Merger, dated as of April 24, 2012, by and among Halcón, Leopard Sub 1, Inc., Leopard Sub II, LLC and GeoResources. Halcón and GeoResources expect to close the merger effective August 1, 2012.

The approval of the stockholders of Halcón and GeoResources was one of the final conditions to the closing of the merger. Pursuant to the merger agreement, GeoResources stockholders will receive $20.00 in cash and 1.932 shares of Halcón common stock for each share of GeoResources common stock they hold. As a result of the transaction, GeoResources’ common stock will cease to be listed on the NASDAQ Global Select Market.

Halcón stockholders approved the issuance of shares of Halcón common stock in the merger and also approved the election of Michael A. Vlasic, Chief Executive Manager of Vlasic Investments L.L.C. and board member of GeoResources, to Halcón’s board of directors contingent upon consummation of the merger.

GeoResources stockholders approved the adoption of the merger agreement and also approved, on an advisory basis, the compensation paid or payable to GeoResources’ named executive officers relating to the merger.

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