SETON <SEL> DIRECTORS APPROVE MERGER AGREEMENT Seton Co said its board of directors unanimously approved an agreement and plan of merger providing for the merger of Seton with a unit of S Acquisition Corp, a New Jersey company. Seton said its board of directors unanimously approved the merger in a meeting held today. Seton said the agreement and plan of merger provides that all shares of Seton Co common stock not held by S Acquisition Corp, or its units, will be converted upon the merger into the right to receive 15.88 dlrs per share in cash.