BUZZ - EQT shares fall pre-market due to impact from Range Resources acquisition deal

October 26 - ** The stock price of U.S. natural gas company EQT Corp (EQT.N) dropped 4.7% in premarket trading to $53.10; while Range Resources (RRC.N) shares rose 10.1% to $50.12.

** EQT will acquire Range Resources in an all-stock transaction (link), and the combined company will have an enterprise value of over $50 billion.

** Under the agreement, 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 is about 20.6% higher than last Friday’s closing price of $45.52 for Range Resources.

** As of the previous trading day’s close, EQT has risen 3.7% year-to-date, while RRC has gained 29.1% year-to-date.

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