Investing.com– Australian LNG producer Woodside (OTC:) Power Ltd (ASX:) stated on Monday that it’ll purchase U.S.-based peer Tellurian Inc (NYSE:), having access to the agency’s Driftwood improvement on the Gulf Coast.
Woodside can pay $1 in money for every share of Tellurian, representing an over 75% premium to Tellurian’s shut on Friday. The per-share determine values Tellurian at $900 mln, with an implied enterprise worth of $1.2 billion.
The deal will add a U.S. LNG improvement to Woodside’s portfolio, growing the agency’s future output, in addition to its presence within the U.S. Tellurian’s board of administrators authorised the transaction.
Tellurian’s Driftwood LNG challenge, close to Lake Charles, Louisiana, is the main target of the deal, with Woodside additionally extending a $230 million mortgage to the agency to make sure regular improvement of Driftwood.
