EQT shares fall premarket on deal to acquire Range Resources
EQT•EQT shares fell 4.7% premarket while Range Resources shares rose 10.1% after EQT agreed to acquire Range in an all-stock deal valuing it at about $12.83 billion. Range shareholders will receive 0.987 EQT shares per share, an implied offer price of $54.91, 20.6% above Range’s last close.
1. Deal terms and shares
EQT will acquire Range Resources in an all-stock transaction to create a company with an enterprise value of more than $50 billion. EQT shares were down 4.7% at $53.10 premarket, while Range shares were up 10.1% at $50.12.
