EQT, Range Resources to merge in $50bn all-stock deal

EQT has agreed to acquire rival Appalachian Basin producer Range Resources in an all-stock transaction that would create a US natural gas entity with a pro forma enterprise value of more than $50bn.

Under the proposed merger agreement, each Range common share would be exchanged for 0.987 EQT common shares. EQT shareholders are expected to hold about 73% of the combined group, while Range investors would own the remaining 27%.

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Both companies are currently listed on the New York Stock Exchange (NYSE).

This story was originally published by Offshore Technology. Read the full story at Offshore Technology →