[miningmx.com] — BHP Billiton has advised that all conditions to the closing of the tender offer to acquire all outstanding shares of Petrohawk Energy Corporation for $38.75 per share have been satisfied.
The depositary for the tender offer has advised that, as of the expiration of the offer at 24:00, New York City time, on Friday, August 19, about 293.9 million Petrohawk shares had been validly tendered, including approximately 36 million shares tendered by guaranteed delivery, which represent approximately 97.4% of the outstanding shares of Petrohawk.
As the final step of the acquisition process, BHP Billiton expects to effect a short-form merger under Delaware law as promptly as practicable.
Petrohawk will be the surviving corporation in the merger and will become an indirect wholly owned subsidiary of BHP Billiton. Following the merger, Petrohawk shares will be delisted and will cease to trade on the New York Stock Exchange.
