Monday, June 26, 2017

EQT to Buy Rice Energy for $6.7 Bln

Posted by June 20, 2017

U.S. oil and gas company EQT Corp said on Monday it would buy oil and gas producer Rice Energy for $6.7 billion in cash and shares.
 
Rice Energy shareholders will receive $5.30 per share in cash and 0.37 EQT shares for each share they hold, EQT said.
 
EQT's offer translates to $27.05 per Rice Energy share, representing a premium of 37.4 percent to Rice Energy's Friday closing price, according to Reuters calculations.


(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sai Sachin Ravikumar)

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