EQT to acquire Range Resources in an all‑stock deal valued at over $50 billion
+1 new source since this summary was written
EQT Corp. announced an all‑stock merger with Range Resources Corp., exchanging each Range share for 0.987 EQT shares. The transaction gives EQT shareholders about 73% of the combined company and Range shareholders about 27%, and is expected to close in the first quarter of 2027 pending regulatory and shareholder approvals. The companies project more than 9 billion cubic feet equivalent per day of net production, $325 million of annual synergies within two years and roughly $20 billion of cumulative free cash flow over five years.
Why it matters
Raymond James raised its price target on Range to $48, reflecting the perceived upside of the merger. EQT’s stock fell 4.6% pre‑market after the announcement, indicating immediate dilution concerns for existing EQT shareholders.
Key facts
- 1The merger is an all‑stock transaction valued at over $50 billion (pro forma enterprise value). prnewswire.com
- 2Each outstanding share of Range will be exchanged for 0.987 shares of EQT. prnewswire.com
- 3EQT shareholders are expected to own approximately 73% of the combined company, while Range shareholders will own approximately 27%. prnewswire.com
- 4The combined company will have net production of more than 9 billion cubic feet equivalent per day. prnewswire.com
- 5The companies expect $325 million of base annual synergies within two years, with a pathway to more than $600 million long‑term. prnewswire.com
- 6Cumulative free cash flow is projected to be about $20 billion over the next five years. prnewswire.com
Summary written by AlphAI AI Desk from 20 of 71 sources. Not investment advice. Figures are as stated by the linked sources.