Cases & Deals

Archaea Energy acquired by bp for approximately $4.1 billion

Clients Archaea Management Team

Jones Day represented the management team and co-founders of Archaea Energy Inc., an industry-leading renewable natural gas (“RNG”) company, in connection with Archaea’s acquisition by bp plc.

Archaea stockholders will receive approximately $26 per Archaea Class A and Class B share in cash, resulting in a total enterprise value of approximately $4.1 billion, including approximately $800 million of net debt. The cash consideration represents an approximately 38% premium to Archaea’s volume weighted average share price for the 30 days ending October 14, 2022.

Jones Day also represented the management team in connection with the negotiation of post-closing employment arrangements.

Subject to regulatory approvals and Archaea shareholder approval, the parties anticipate closing the acquisition by the end of 2022.