Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of independent oil and gas company Petrohawk Energy
So what: This is an easy one. The big gains for Petrohawk were fueled by BHP Billiton's
Now what: As of this writing, Petrohawk's stock is trading at $38.17, just 1.5% below BHP's offer. That means that there probably isn't a huge opportunity for arbitrage here. So should Petrohawk shareholders take the money and run? I couldn't blame them -- the 60% premium is pretty sweet and likely high enough to prevent a higher offer from coming in.
For shareholders that were hot-to-trot for Petrohawk's shale plays, it may be worth taking a look at BHP. For BHP, the Petrohawk deal follows a $4.8 billion deal for shale assets from Chesapeake
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