BHP Billiton to complete acquisition of Petrohawk Energy
A deal is in place that will see BHP Billiton acquire Petrohawk Energy.
A negotiation seminar may have aided BHP Billiton after it announced its acquisition of Petrohawk Energy Corporation.
The value of the deal is estimated to be US$12.1 billion (£7.5 billion) and it will give the former operations in three world-class onshore natural gas and liquids resource plays - the Permian Basin and the Eagle Ford and Haynesville shales.
Chief executive officer of BHP Billiton - which is the result of the merger of two small mining organisations in the mid-1880s - Marius Kloppers noted the move fits in with its overall business strategy.
"[It] provides us with even greater exposure to the world's largest energy market, while also broadening our geographic and customer spread," he added.
Mr Kloppers continued by saying it is a "unique opportunity" for shareholders in Petrohawk to get a premium price for their stock.
With business negotiations now complete, the tender offer will commence on July 25th.
Posted by Edel Quinn