Liquefied Natural Gas Ltd. Takeover

Perth-Based Liquefied Natural Gas Ltd Sold to $27B Hedge Fund

Shares in US LNG terminal developer Liquefied Natural Gas Ltd were sold to Seth Klarman's $27 billion hedge fund Baupost, whose shares have more than tripled in the past two months.
Baupost now holds a 6.69 per cent stake in Perth-based LNG Ltd, which is developing the $US3.5 billion Magnolia LNG export terminal in Louisiana, according to a substantial shareholder notice lodged on Thursday.
LNG Ltd has seen a massive surge in its market value as the market became aware of the progress it is making at Magnolia LNG, which chief executive Maurice Brand says has the potential to be among the first five US gas export ventures to start shipments, subject to approvals.
After dropping its abortive plans for an LNG export venture in Queensland and switching its focus to the US, the company has been gaining steady support among institutional investors as its project has marched forward.
Source: Sydney Morning Herald

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