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BHP Billiton (BHP) Acquires Petrohawk Energy (HK) In $12.1B Deal

July 14, 2011 9:20 PM EDT
BHP Billiton (NYSE: BHP) announced a deal Thursday evening to acquire Petrohawk Energy Corp. (NYSE: HK) for $12.1 billion in cash, or $38.75 per share.

The deal comes at at 65% premium to Thursday's close of $23.49.

Petrohawk’s Board of Directors has approved the transaction and unanimously recommended that stockholders tender their shares.

BHP Billiton targeted closing the deal in the third quarter of 2011.


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