n">(Reuters) - Halcón Resources Corp (HK.N) said it will buy GeoResources Inc (GEOI.O) 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.
(Reporting by Swetha Gopinath in Bangalore; Editing by Don Sebastian)
