Tellurian Inc. Announces Merger with Woodside Energy Holdings, Expected to Finalize on October 8, 2024
HOUSTON, TX - Tellurian Inc. (NYSE: TELL), a key player in the energy industry, has revealed the upcoming completion of its merger with Woodside Energy Holdings LLC. The merger is set to be finalized on or about October 8, 2024, pending approval from the Committee on Foreign Investment in the United States.
Following a special meeting of Tellurian's stockholders on October 3, 2024, where crucial proposals related to the merger were voted upon, the Merger Agreement with Woodside Energy Holdings was approved, along with the non-binding, advisory approval of related executive compensation.
The successful merger is subject to customary closing conditions and is expected to bolster Tellurian's position in the energy sector. However, the company has not provided any forward-looking statements beyond the anticipated closing date.
In addition, Tellurian Inc. has secured shareholder approval for its $1.2 billion acquisition by Woodside Energy Group, which includes Tellurian's Driftwood LNG export project. This acquisition aims to address financial challenges faced by Tellurian and drive the project's progress.
As investors consider the implications of Tellurian's merger with Woodside Energy Holdings, key financial metrics and insights from InvestingPro are essential. Tellurian's market capitalization currently stands at $872.43 million, with a revenue growth rate of -9.53% over the last twelve months. Analysts anticipate a sales decline in the current year, highlighting potential challenges post-merger.
Despite financial hurdles, Tellurian's stock has shown strong performance recently, with a 41.37% price total return over the last three months. Investors can access 8 additional tips from InvestingPro for a more comprehensive analysis of Tellurian's financial position and market performance ahead of the merger.
In summary, Tellurian's merger with Woodside Energy Holdings has significant implications for the company's future and investors' portfolios. Understanding the financial metrics and market insights provided by InvestingPro can help investors make informed decisions in light of this major development.