10:25 AM EDT, 07/22/2024 (MT Newswires) -- (Updates to include Tellurian's recent stock movement in the headline and first paragraph.)

Tellurian (TELL) shares were up more than 65% in recent Monday trading after the company announced a definitive agreement for Woodside Energy Group ( WDS ) to acquire all the outstanding shares of Tellurian for $1 per share in an all-cash transaction of about $900 million.

The implied enterprise value of the transaction, which was unanimously approved by both boards of directors, amounts to about $1.2 billion, including net debt, Tellurian said.

The acquisition is expected to close in Q4, the company added.

Price: 0.94, Change: +0.37, Percent Change: +65.15