WhiteHawk Energy reiterated its proposal to acquire PHX Minerals Inc. (PHX) for $4.00 per share in an all-cash transaction. This proposal reflects a 19% premium over PHX's 90-day volume-weighted average price and a 17% premium over its 30-day volume-weighted average price.
WhiteHawk Energy urged the PHX Board of Directors to engage with them to pursue and complete the transaction, following a lack of engagement over the past 18 months.
WhiteHawk disclosed that it now owns approximately 2.5% of PHX's outstanding common stock.
For comments and feedback: editorial@rttnews.com