Panhandle Oil and Gas (PHX.US) acquired by White Hawk for $187 million, post-market surges nearly 20%

According to the WiseFinance APP, it was learned that WhiteHawk, a natural gas mining and concession fee company, has agreed to acquire Panhandle Oil and Gas Company (PHX.US) at a cash price of $4.35 per share, representing a 21.8% premium to the latter's closing price on May 7th. After the US stock market closed on Thursday, Panhandle Oil and Gas stock price surged more than 20%, and as of the time of writing, it had risen by nearly 19%. Including debt, the total value of this transaction is approximately $187 million.