Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
BHP Billiton Ltd. says it will buy U.S.-based oil company Petrohawk Energy for $12.1 billion in cash, giving it greater access to U.S. shale gas assets.
The world’s largest miner said Friday it would pay $38.75 for each Petrohawk share in an all-cash tender offer. The total value of the deal is $15.1 billion, including Petrohawk’s debt.
