Tellurian to be acquired by Woodside for approximately $900M

Tellurian announced that it has entered into a definitive agreement with subsidiaries of Woodside Energy Group pursuant to which Woodside will acquire all the outstanding shares of Tellurian for $1.00 per share in an all-cash transaction. The acquisition price represents a 75% premium to Tellurian’s closing price on July 19, 2024, and a 48% premium to Tellurian’s 30-day volume weighted average price, which reflect Driftwood LNG’s premier site, fully permitted status, advanced stage of pre-FID development and strong relationships with Bechtel, Baker Hughes, and Chart. The implied total enterprise value of the transaction, including net debt, is approximately $1.2B. The transaction, which was unanimously approved by both boards of directors, is expected to close in Q4 2024, subject to customary closing conditions, including approval from Tellurian shareholders and the receipt of regulatory approvals.