The Briscoe Law Firm And Powers Taylor, LLP Announce Investigation Of Petrohawk Energy Corporation
Briscoe Law Firm, PLLC, founded by a former enforcement attorney for
the United States Securities and Exchange Commission, and the securities
litigation firm of
Taylor, LLP are investigating...
The Briscoe Law Firm, PLLC, founded by a former enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Petrohawk Energy Corporation (“Petrohawk Energy” or “HK”) (NYSE:HK) related to the acquisition of Petrohawk Energy by BHP Billiton. The definitive acquisition agreement involves an all-cash transaction valued at approximately $15.1 billion, including assumption of debt. Under the proposed buyout, Petrohawk Energy shareholders will receive $38.75 in cash for each share of Petrohawk Energy/HK common stock they hold through a tender offer commencing by July 25, 2011. The transaction is expected to close in the third quarter of 2011. The firms are investigating the fairness of the proposed transaction to Petrohawk Energy shareholders, whether the shareholders are being underpaid for their stock, and whether Petrohawk Energy’s Board of Directors acted in the shareholders’ best interests. In particular, Petrohawk Energy recently reported first quarter financial results that exceeded analyst’s expectations, including net income of $44.4 million compared to $39.9 million in the same quarter the prior year. In addition, at least one analyst has set a target price of $39 per share for Petrohawk Energy stock, well above the current acquisition price. Based on these and other factors, the firms are critically evaluating whether Petrohawk Energy’s Board of Directors considered all potential alternatives and obtained the best price for the shareholders. If you currently own shares of Petrohawk Energy/HK and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free 877-728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, toll free 877-397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.