In a Surprising Twist, Tellurian Agrees to Sell Itself in a $1.2 Billion Deal

(NYSEMKT: TELL) finally put an end to all the speculation about its future this week. The liquefied natural gas (LNG) developer has agreed to sell itself to Australian energy giant Woodside Energy Group (NYSE: WDS) for $1.2 billion. The all-cash deal will allow investors to recoup some of their investment in the beleaguered energy company.

Here's a look at the deal and what it means for investors in both energy stocks.

Woodside Energy has agreed to acquire LNG developer Tellurian for $1 per share in cash. That's a 75% premium to its closing price last week and 48% above its average price over the last 30 trading days. Woodside is paying $900 million in cash plus assuming Tellurian's debt and preferred equity, which pushes the transaction's enterprise value up to around $1.2 billion.

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Source Fool.com