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Oil and gas producer EQT to buy Rice Energy in $6.7 billion deal

from Reuters

U.S. oil and gas company EQT Corp said on Monday, June 19, it would buy Rice Energy for $6.7 billion in its biggest deal ever, as it looks to expand its natural gas business. Rice Energy's shares surged more than 24 percent to $24.47 in early trading, but below the $27.05 per share offered by EQT. EQT's shares were down 9.4 percent. The deal comes at a time when U.S. energy firms are pumping in money to develop facilities in gas-rich states like Pennsylvania, West Virginia and Ohio as the country prepares to become the world's top natural gas exporter. more


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