Ademi LLP is investigating Tellurian (NYSE American: TELL) for possible breaches of fiduciary duty and other violations of law in its transaction with Woodside.
Tellurian stockholders will receive only $1 per share in an all-cash transaction that values Tellurian at an implied total enterprise value, including net debt, of approximately $1.2 billion. The transaction agreement unreasonably limits competing transactions for Tellurian by imposing a significant penalty if Tellurian accepts a competing bid. Tellurian insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Tellurian’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.