EQT to acquire Range Resources in $50 billion all-stock deal
The gist
EQT agreed to buy Range Resources in an all-stock deal creating a gas producer valued above $50 billion.
The combined company would be the largest vertically integrated US natural gas producer.
How it unfolded
- Oct 26, 2026EQT and Range announced a definitive merger agreement in which EQT will acquire Range in an all-stock deal, creating a company with a pro forma enterprise value over $50 billion.
- Oct 26, 2026Under the terms, each Range share will be exchanged for 0.987 shares of EQT; EQT shareholders are expected to own about 73% of the combined company and Range shareholders about 27%.
- Oct 26, 2026The deal was valued at about $12.83 billion, with the exchange ratio worth $54.91 per share, a roughly 21% premium to Friday's $45.52 close. Range shares rose over 10% while EQT shares fell over 4.5%.