On July 26, Australian miner BHP Billiton announced that the US competition regulator granted early approval for BHP Billiton's tender offer for all of the issued and outstanding shares of common stock of US-based shale gas company Petrohawk Energy Corporation (Petrohawk) for $38.75 per share in cash with a total equity value of $15.1 billion.
As SteelOrbis previously reported, the tender offer is subject to terms and conditions of the merger agreement between BHP Billiton and Petrohawk.
The tender offer is scheduled to expire at midnight, New York City time, at the end of Friday, August 19, 2011, unless the tender offer is extended or earlier terminated in accordance with the rules and regulations of the United States Securities and Exchange Commission and the merger agreement.