Global mining, oil and gas company BHP Billiton will acquire Petrohawk Energy for around $12.1billion, Bloomberg reports. Under the agreement, BHP Billiton will pay $38.75 per share to buy Petrohawk’s shares. The transaction, which is expected to close in the third quarter of this year, will be funded from existing cash and a new credit facility, adds Energy Business. With this deal, BHP Billiton will access three resource plays of the Eagle Ford and Haynesville shales and the Permian Basin.

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