Range shareholders agreed to receive 0.987 EQT shares per share under buyout terms
EQT Corp. agreed Monday to acquire Range Resources in an all-stock deal. The companies said the merger would create the largest vertically integrated natural gas producer in the United States. Range shareholders will receive 0.987 EQT shares for each share they hold; closing is expected in the first quarter of 2027, subject to regulatory and shareholder approvals.
More context
Under the terms, Range shareholders are to get 0.987 shares of EQT for every share they own. The Wall Street Journal said that equaled about $54.91 per Range share, based on Friday’s closing price, a roughly 21% premium to Range’s $45.52 close. EQT shareholders are expected to own about 73% of the combined company, with Range investors holding 27%, Reuters reported. The companies project completion in the first quarter of 2027, pending regulatory and shareholder approvals. In premarket trading Monday, Range shares rose 9.7% to $49.94 and EQT shares fell 7.4% to $51.52, 24/7 Wall St. reported.
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Reporting
- The Wall Street Journal — EQT to Buy Range Resources in $13 Billion Stock Swap - WSJ
- Reuters — EQT to buy Range Resources in over $50 billion deal | Reuters
- forbes.com — EQT, Range Merger Forms $50 Billion Marcellus Gas Powerhouse
- hartenergy.com — EQT to Buy Range Resources in $13B Appalachian Gas Deal - Hart Energy
- post-gazette.com — EQT to buy Range Resources in all-stock Appalachian blockbuster deal
- 247wallst.com — Had You Invested $1,000 in EQT or Range Resources 5 Years Ago, Here's What You'd Have: What to Expect From the Merged Company - 24/7 Wall St.
Verifier’s note
The Wall Street Journal, Forbes, Reuters, Hart Energy, the Pittsburgh Post-Gazette, and 24/7 Wall St. all report EQT’s acquisition of Range Resources. The reported deal value is consistent: some describe the roughly $13 billion stock consideration, while Reuters gives a figure above $50 billion for the combined transaction.