Cheniere proposes buying the Cheniere Energy Partners shares it doesn't own for a 1% premium
Cheniere Energy Inc. said Thursday it proposed buying the rest of the Cheniere Energy Partners LP Holdings LLC shares it doesn't already own, in a deal that would value Cheniere Energy Partners shares at a 1.0% premium. Under terms of the proposal, Cheniere would exchange 0.4500 of its shares for each Cheniere Energy Partners share outstanding. Based on Wednesday's closing prices, that would value Cheniere Energy Partners shares at $28.24, a 1.0% premium. At that price, Cheniere Energy Partners would have a market capitalization of about $6.54 billion. Cheniere currently owns 91.9% of Cheniere Energy Partners' outstanding shares. Neither shares are active in the premarket. Year to date, Cheniere's stock has run up 16.6%, while Cheniere Energy Partners shares have edged up 0.9% and the S&P 500 has gained 1.8%.