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Friday, August 26, 2011

BHP Billiton Completes Petrohawk Acquisition

- BHP Billiton Completes Petrohawk Acquisition

Friday, August 26, 2011
BHP Billiton plc

BHP Billiton has completed its acquisition of Petrohawk through a short-form merger under Delaware law of its wholly owned subsidiary with and into Petrohawk, with Petrohawk being the surviving corporation as a wholly owned subsidiary of BHP Billiton. The merger was the final step of the acquisition process and follows the previously announced completion of the tender offer by BHP Billiton to acquire all outstanding shares of common stock of Petrohawk.

BHP Billiton Petroleum Chief Executive, J. Michael Yeager, said the Petrohawk acquisition adds high-quality growth to the company.

"With the completion of this transaction, BHP Billiton Petroleum is on track to deliver compound annual growth in production volumes of ten percent for the remainder of the decade. We are excited that Petrohawk's sizable U.S. workforce is joining our talented group of professionals and we are ready to grow this business over the long-term."

Petrohawk has requested the New York Stock Exchange to take the necessary steps with the U.S. Securities and Exchange Commission to delist Petrohawk's common stock from the NYSE.

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