EQT以全股票方式收购Range Resources，合并将成美国最大天然气生产商

Range Resources ( RRC ) jumped 15.3% pre-market Monday after EQT Corp. ( EQT ) agreed to acquire the company in a deal will create the largest U.S. natural gas producer, with more than 9 Bcfe/day of output and control of nearly 3M net acres in ‌the ⁠Appalachian Basin. In the all-stock deal, EQT ( EQT ) said it would issue 0.987 shares, worth $54.91/share based on Friday's closing price, for each share of Range ( RRC ), a ~21% premium to Friday's closing price of $45.52, valuing the deal at ~$12.83B. EQT ( EQT ) shareholders would own ~73% of the combined company, which it said would have a pro forma enterprise value topping $50B, while Range ( RRC ) investors would own the remaining ~27%. Upon the closing of the transaction, two representatives ​from Range ( RRC ), including CEO Dennis Degner, will join EQT's ( EQT ) board ​of directors, while ⁠EQT's executive management will lead the combined company with headquarters remaining in Pennsylvania. EQT ( EQT ) said the acquisition would improve its free ⁠cash flow ​breakeven to below $2/MMBtu and generate $325M of annual savings within two years through corporate, operational, and marketing ​efficiencies.