CORRECT: BHP Billiton To Acquire US Shale Gas Company Petrohawk Energy
July 14 2011 - 11:10PM
Dow Jones News
BHP Billiton Ltd. (BHP) on Friday said it has agreed to buy
Petrohawk Energy Corp. (HK) for US$12.1 billion in an all-cash
offer, marking its second acquisition of U.S. shale gas assets this
year.
BHP said the two companies have entered into a definitive
agreement for BHP to buy Petrohawk for US$38.75 a share. BHP will
also assume some debt, bringing the total enterprise value of the
deal to US$15.1 billion.
The diversified mining giant said it will fund the acquisition
from existing cash resources and a new credit facility, with the
transaction expected to close by Sep. 30.
BHP in February agreed to buy assets from U.S. shale gas
producer Chesapeake Energy Corp. (CHK) for US$4.75 billion
cash.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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