BHP Billiton Ltd (ASX:BHP) has agreed to buy Petrohawk Energy for $US12.1 billion.
It’s an all cash offer, and the miner’s second acquisition of US shale gas assets this year.
The total enterprise value of the deal is $US15.1 billion. BHP is set to buy Petrohawk for $US38.75 a share, funded from existing cash resources and a new credit facility.
BHP said it would retain Petrohawk’s workforce.
For the half year ended 31 December 2010, BHP reported a net profit of $10.5 billion.
