BHP Billiton To Acquire Petrohawk Energy For $12.1B

BHP Billiton Ltd BHP announced its plans to buy Petrohawk Energy Corp HK for $12.1 billion in cash. BHP would pay $38.75 for each Petrohawk share, representing a 65% premium to Petrohawk's Thursday closing price of $23.49. The total value of the all-cash deal is $15.1 billion, including Petrohawk's debt. BHP shares dropped 1.52% to $90.88 in pre-market trading, while HK shares surged 61.98% to $38.05 in pre-market trading.