WhiteHawk Energy Reiterates Bid to Acquire PHX Minerals-March 2024-www.financetom.com

WhiteHawk Energy Reiterates Bid to Acquire PHX Minerals

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WhiteHawk Energy Reiterates Bid to Acquire PHX Minerals

Oct 17, 2024 12:27 PM

05:04 PM EDT, 10/14/2024 (MT Newswires) -- WhiteHawk Energy reiterated its bid to acquire PHX Minerals ( PHX ) at $4 a share, reflecting a 19% premium to PHX's 90-day volume weighted average price as of Friday.

The nonbinding offer was reiterated in a letter to PHX Chairman Mark Behrman, closely held Whitehawk said Monday in a statement.

WhiteHawk, based in Philadelphia, said it owns 946,506 common shares of PHX, or 2.5% of the company. It urged the PHX board to "engage with WhiteHawk to pursue and complete a transaction following unwillingness to engage over the past 18 months."

PHX didn't immediately respond to a request for comment from MT Newswires.

Shares of PHX, based in Oklahoma City, jumped 6.6% in after-hours activity.

Price: 3.7400, Change: +0.2300, Percent Change: +6.5527

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