Cheniere withdraws bid to buy Cheniere Energy Partners

The proposed transaction was subject to the negotiation and execution of a definitive agreement and approval of such definitive agreement by the board of directors of Cheniere, the board of directors of Cheniere Partners Holdings and a conflicts committee established by the board of directors of Cheniere Partners Holdings.

The consideration initially offered by Cheniere was 0.5049 Cheniere shares for each outstanding publicly-held share of Cheniere Partners Holdings, which represented a premium of approximately 3% over the closing price of Cheniere Partners Holdings' shares, based on the closing prices of Cheniere Partners Holdings' shares and of Cheniere's shares as of 29 September 2016, or a premium of approximately 7% over the 30-trading day average CQH / LNG exchange ratio as of 29 September 2016.

Cheniere has concluded that no acceptable definitive agreement can be reached with the conflicts committee at this time, despite raising the offer to an exchange ratio of 0.54.

Cheniere currently owns 80.1% of the issued and outstanding shares of Cheniere Partners Holdings. Cheniere confirmed that it may, subject to market and general economic conditions and other factors, purchase additional shares of Cheniere Partners Holdings in the open market or in privately negotiated transactions from time to time.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09122016/cheniere-withdraws-bid-to-buy-cheniere-energy-partners/