Australia's Woodside Energy to buy US-based Tellurian for $1.2 bln (updated)
21/07/2024 23:51
(Adds details and background from paragraph 2 onwards)
July 22 (Reuters) - Woodside Energy WDS.AX on Monday
said it has entered a definitive agreement to acquire U.S.-based
Tellurian TELL.A including its owned and operated U.S. Gulf
Coast Driftwood LNG development for an implied enterprise value
of $1.2 billion.
Woodside would buy the liquefied natural gas developer
Tellurian's shares at $1 each, representing an over 75% premium
to the last closing price of Tellurian.
"It adds a scalable U.S. LNG development opportunity to our
existing approximately 10 metric tonnes per annum of equity LNG
in Australia," said Woodside CEO Meg O’Neill.
(Reporting by Ayushman Ojha
Editing by Chris Reese)
((Ayushman.Ojha@thomsonreuters.com;))