Range Resources jumps as EQT agrees to acquire the gas producer
+17.66% to $53.56 from $45.52
What moved RRC
- EQT agreed to acquire Range Resources in an all-stock transaction in which Range shareholders receive 0.987 EQT shares per Range share, giving them about 27% ownership of the combined company.
- The deal, unanimously approved by both boards, is expected to close in the first quarter of 2027 pending shareholder and regulatory approval.
- The combination would create a company with net production above 9 billion cubic feet equivalent per day and extensive midstream infrastructure, which EQT described as America’s dominant natural-gas producer.
Sources: Bloomberg · Investing.com · EQT Investor Relations