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EQT to buy Rice Energy in $6.7B cash and stock deal

Published 06/19/2017, 08:02 AM
© Reuters.  EQT to buy Rice Energy in $6.7B cash and stock deal
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  • Rice Energy (NYSE:RICE) +30.9% premarket after EQT Corp. (NYSE:EQT) agrees to acquire the company for $6.7B in cash and stock, bringing together two of the top gas producers in the Marcellus and Utica shales.
  • The deal includes 0.37 shares of EQT common stock and $5.30 in cash per share of Rice common stock; EQT also will assume or refinance ~$1.5B of net debt and preferred equity.
  • EQT says Rice's acreage footprint is largely contiguous to its existing acreage, which would provide substantial synergies and make the deal significantly accretive in the first year.
  • Now read: Rice Energy To Accelerate Dropdown To Rice Midstream Partners


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