BHP Billiton Ltd. said Thursday it plans to acquire Petrohawk Energy Corp. for more than $12 billion in cash, giving the Anglo-Australian mining company access to large shale assets in Texas and Louisiana in one of the largest deals of the year.
BHP will pay $38.75 per share, a 65% premium to Petrohawk's closing price on Thursday of $23.49 a share.
The deal marks an important strategic step for BHP, which last year was rebuffed in a highly politicized $38.6 billion bid for Canada's Potash Corp. of Saskatchewan Inc.
One of the largest global mining companies, BHP has been eager .
source:WSJ
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