EQT to buy Range Resources in over $50 billion deal

What happened

EQT Corp agreed to buy Range Resources in an all-stock deal valued at more than $50 billion. Range shareholders will get 0.987 EQT shares per share. EQT holders will own about 73% and Range holders 27%. The deal is expected to close in the first quarter of 2027, pending approvals.

Confirmed

Global impact / market context

Combining the two companies would create what they call the largest vertically integrated natural gas producer in the United States, meaning one company controls more steps from production to delivery. That size could shift how gas is supplied and priced, and it changes what investors own.

Analyst inference

Using stock instead of cash means Range investors become EQT owners rather than receiving money, so the deal's value moves with EQT's share price. The long wait until early 2027 leaves room for regulatory review, which means the deal is not yet final.

Analyst inference

What to watch

1. The deal needs regulatory and shareholder approvals and is expected to close in the first quarter of 2027, so watch for updates on those approvals and any change to the expected timing. Confirmed
2. Watch whether EQT shares issued to Range holders change the combined company's ownership split, since the stated 73% and 27% figures depend on the exchange terms holding. Proposed
3. Because payment is in EQT stock, Range investors face EQT's price moves until closing. Watch EQT's share price, since a fall would reduce what Range holders effectively receive. Analyst inference

Evidence

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