Petrohawk and KCS Clear Hurdle to Merger

Petrohawk Energy Corp. on Thursday announced that the waiting period for U.S. antitrust review has expired in connection with the company’s previously announced proposed merger with KCS.

The waiting period, which ended on June 19, was required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The expiration of the Hart-Scott-Rodino waiting period satisfies one of the conditions to the merger.

Consummation of the merger remains subject to other customary closing conditions, including approval of the merger by the stockholders of both companies. Proxy statements were mailed to stockholders on June 5, in advance of stockholders’ meetings to be held by both Petrohawk and KCS on July 12.

Petrohawk Energy Corp. is an independent oil and gas company engaged in the acquisition, development, production, and exploration of natural oil and gas properties located in North America. Petrohawk’s properties are concentrated in the East Texas/North Louisiana, Gulf Coast, South Texas, Permian Basin, Anadarko, and Arkoma regions.

KCS is an independent oil and gas company engaged in the acquisition, exploration, development, and production of natural gas and oil properties, primarily located in the Mid-Continent and onshore Gulf Coast regions of the United States. KCS also has interests in producing properties in Michigan, California, Wyoming, and offshore Gulf of Mexico.

Source: www.rigzone.com