Cheniere Energy Inc. said Friday that it submitted a proposal to buy the shares of Cheniere Energy Partners L.P. Holdings it doesn't already own in a deal that would value Cheniere Partners Holdings at about $5.1 billion. Cheniere Energy owned 80.1% of Cheniere Partners Holdings' shares as of Aug. 12, according to FactSet. Under terms of the deal, Cheniere Energy would pay 0.5049 of its shares for each Cheniere Partners Holdings shares outstanding. Based on Thursday's closing price of Cheniere Energy's stock of $43.37, the bid values Cheniere Partners Holdings shares at $21.90 each, or a 3% premium. Cheniere Partners Holdings owns units of natural gas company Cheniere Energy Partners LP, which is a subsidiary of Cheniere Energy. Cheniere Partners Holdings stock was indicated up 4.5% in premarket trade, while Cheniere Energy shares were indicated down 0.9%. The stocks have gained 22% and 16%, respectively, year to date, while the S&P 500 has tacked on 5.2%.
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