PHX Minerals Urges Shareholders to Reject WhiteHawk Energy Buyout Proposal

Dow Jones

2024-11-14

By Adriano Marchese

PHX Minerals on Thursday said that its shareholders should decline the WhiteHawk Energy proposal.

WhiteHawk first offered to acquire PHX for $4 a share in cash in November 2023. The company has been attempting to engage with PHX for over 19 months, including several proposals to acquire the company. Most recently in October of this year, WhiteHawk reiterated its offer to purchase the oil and gas company.

PHX Minerals said rejecting the offer is in the best interest of the company's stockholders, but didn't elaborate further.

"We and PHX management continue to review opportunities that are focused on maximizing stockholder value," it said in a statement.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 14, 2024 09:27 ET (14:27 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The company has been attempting to engage with PHX for over 19 months, including several proposals to acquire the company. Most recently in October of this year, WhiteHawk reiterated its offer to purchase the oil and gas company. \n</p>\n<p>\n  PHX Minerals said rejecting the offer is in the best interest of the company's stockholders, but didn't elaborate further. \n</p>\n<p>\n  \"We and PHX management continue to review opportunities that are focused on maximizing stockholder value,\" it said in a statement. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 14, 2024 09:27 ET (14:27 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7049","symbol_name":"互聯網與直銷零售","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2483431809","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483431809","pubTimestamp":1731594420,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"PHX Minerals on Thursday said that its shareholders should decline the WhiteHawk Energy proposal.WhiteHawk first offered to acquire PHX for $4 a share in cash in November 2023. 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