Key facts
- EQT Corp to acquire Range Resources in an all-stock deal valued at over $50 billion.
- Combined entity to be the largest vertically integrated natural gas producer in the US.
- Range shareholders to receive 0.987 EQT shares per Range share.
- Implied offer price of $54.91 per share, a 20.6% premium to Range's Friday close.
- Transaction expected to close in Q1 2027.
- Deal anticipated to generate $325 million in annual savings within two years.
EQT Corp announced on Monday it will acquire Range Resources in an all-stock deal valued at over $50 billion, including debt, creating what the companies described as the largest vertically integrated natural gas producer in the United States. Range Resources shareholders will receive 0.987 EQT Corp shares for each share held, valuing the deal at approximately $12.83 billion. The implied offer price of $54.91 per share represents a 20.6% premium over Range Resources' closing price on Friday. The combined company is expected to produce over 9 billion cubic feet of natural gas equivalent per day and control nearly 3 million net acres in the Appalachian Basin. EQT shareholders will own about 73% of the combined entity, with Range investors holding the remaining 27%. The transaction is anticipated to close in the first quarter of 2027, pending regulatory and shareholder approvals.