Stone Energy Corp., Lafayette, La., (NYSE: SGY) has accepted the bid from Energy Partners Ltd., New Orleans, (NYSE: EPL) to acquire the company for approximately $2.2 billion. The deal values Stone's equity at approximately $1.4 billion and includes approximately $800 million of Stone debt. Energy Partners plans to acquire all outstanding Stone shares for $51 each in cash or stock, with a maximum $723 million in cash and 35 million Energy Partner shares issued. Energy Partners had previously offered $52 per Stone share and assumption of approximately $563 million of debt.
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