Anglo-Australian mining group BHP Billiton will purchase oil and gas company Petrohawk for about $12.1 billion in cash, Financial Times reports. The company has offered $38.75 a share for Petrohawk, which will be partly financed in cash and partly through a new credit facility.
The deal values the company at about $15.1 billion, including debt. BHP was advised by Barclays Capital and Scotia Waterous on the transaction, while Goldman Sachs acted as advisor to Petrohawk.
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