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EQT shares fall premarket on deal to acquire Range Resources

By Reuters News13 hours ago Updated

** Shares of US natural gas company EQT Corp EQT.N down 4.7% at $53.10 premarket, while Range Resources RRC.N was up 10.1% at $50.12

** EQT will acquire Range Resources in an all-stock transaction to create a company with an enterprise value of more than $50 billion

** Under the terms of the agreement, Range Resources shareholders will receive 0.987 EQT Corp shares for each share they own, valuing the deal at about $12.83 billion

** The implied offer price of $54.91 per share is about 20.6% above Range Resources' last closing price of $45.52 on Friday

** As of last close, EQT was up 3.7% YTD and RRC was up 29.1% YTD

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