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"Souki, who left Cheniere in December, is taking his new company public by acquiring the financially struggling Magellan Petroleum Corp. The deal is structured as reverse takeover; Souki will merge his privately held Tellurian Investments into Magellan as a shortcut to becoming publicly traded firm that can raise capital by selling shares on public stock exchanges. The move is considered faster and easier than launching an initial public offering, or IPO. Souki formed Tellurian in February with Martin Houston, the former chief operating officer of British natural gas giant BG Group, which was recently bought by Royal Dutch Shell. 'With this transaction, we will be able to access more attractive financing in order to develop Driftwood LNG, which should come on stream in 2022, just as the markets for new LNG open up,' Houston said in statement.", www.houstonchronicle.com
"Magellan Petroleum Corp. (MPET) announced Wednesday morning that it has entered into a definitive merger agreement with Tellurian Investments Inc. Magellan Petroleum gapped up at the open Wednesday and has spiked higher in early trade on the highest volume of the year.", www.rttnews.com
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