India, Oct. 26 -- EQT Corporation (EQT), a U.S. natural gas producer, said Monday it has agreed to acquire Range Resources Corporation (RRC) in an all-stock deal creating a combined company with an enterprise value of more than $50 billion.
Under the agreement, Range shareholders will receive 0.987 EQT shares for each Range share held. EQT shareholders are expected to own about 73% of the combined company, with Range shareholders holding the remaining 27%. The deal is expected to close in the first quarter of 2027.
EQT expects to achieve $325 million in annual cost savings and other synergies within two years, with potential to exceed $600 million over the longer term. The deal is also expected to lower its unlevered free cash flow breake...