BHP Billiton-Petrohawk deal receives final regulatory approval

Australian mining giant BHP Billiton has received final regulatory approval from US authorities that it may conclude its acquisition of Houston-based Petrohawk Energy Corporation, one of the larger shale players in North America. On Aug. 17, the Committee on Foreign Investment in the US (CFIUS) determined that there are no national security issues of concern in relation to the transactions contemplated by the merger agreement between the two companies, including BHP Billiton’s tender offer for all of the issued and outstanding shares of common stock of Petrohawk for US$38.75 per share in cash.

The companies previously received notice from the US Federal Trade Commission of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in relation to the tender offer. Accordingly, all regulatory approvals conditions to the tender offer have been satisfied.

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