Tellurian jumps after agreeing to be bought by Woodside in $1.2 bln deal
22/07/2024 16:00
** Shares of liquefied natural gas firm Tellurian TELL.A
up 64.6% at 94 cents
** Stock hits highest in over three months
** Australia's Woodside Energy WDS.AX to buy co in a $1.2
bln deal including debt
** The transaction includes the $900 mln cash purchase of
outstanding Tellurian common stock at $1 per share, a more than
75% premium to its last close
** Woodside aims a final investment decision for the phase 1
of Tellurian's Driftwood LNG project by Q1 2025
** Woodside shares closed down 2.1% at A$28.60 on Monday
** Including the session's gains, stock is up 24.4% YTD
(Reporting by Sourasis Bose in Bengaluru)
((Sourasis.bose@thomsonreuters.com))