Archaea Energy Inc. LFG -4.90%▼ said Monday it is being bought by BP BP -2.63%▼ PLC for $26 a share in cash, or a total enterprise value of $4.1 billion, including $800 million of net debt.
The cash consideration represents a 38% premium to the renewable natural gas company’s average share price for the 30 days ended Friday, Archaea said.
The companies are targeting closing the acquisition by the end of this year.
