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BHP Billiton to Acquire Petrohawk Energy - BHP Billiton is Expanding its Geographical Footprint and Customer Spread - Deal Analysis from GlobalData

 
BHP Billiton to Acquire Petrohawk Energy - BHP Billiton is Expanding its Geographical Footprint and Customer Spread - Deal Analysis from GlobalData

BHP Billiton to Acquire Petrohawk Energy - BHP Billiton is Expanding its Geographical Footprint and Customer Spread - Deal Analysis from GlobalData

Summary

BHP Billiton Limited (BHP) entered into a definitive agreement to acquire all of the issued and outstanding shares of Petrohawk Energy Corporation (Petrohawk) for a purchase consideration of $15.1 billion, including the assumption of net debt of $3 billion. Barclays Capital Inc. and Scotia Waterous are acting as financial advisors, while Sullivan & Cromwell LLP and Morgan, Lewis & Bockius LLP are acting as legal advisors to BHP for the transaction. The Goldman Sachs Group, Inc. is acting as financial advisor and Simpson Thacher & Bartlett LLP is acting as legal advisor to Petrohawk for the transaction. The acquisition is subject to the terms and conditions, including a majority of the outstanding Petrohawk shares are tendered, the waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired or been terminated and that clearance is obtained from the Committee on Foreign Investment in the US, and other customary conditions. The transaction is expected to close in the third quarter of 2011. The transaction implies deal values of $109,663.1 per barrels of oil equivalent (boe) of daily production and $26.71 per boe of 1P reserves.

Scope

- Rationale behind BHP Billiton acquiring Petrohawk
- Strategic benefits for the companies involved,
- Geography covered -The US

Reasons to buy

- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in North American industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the US' oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.

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Jul 2011
GlobalData
8 pages

Global Market Research
ASDR-19141

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