EQT Corp. to Acquire Rice for $6.7 Billion
On June 19, Rice Energy announced that it has agreed to be acquired by EQT Corp. for a total consideration of $6.7 billion, consisting of 0.37 shares of EQT stock and $5.30 in cash per share of Rice stock. That equates to roughly $27 per share, reflecting a 37% premium to the closing price on the trading day before the announcement. We believe the deal is very likely to close during the fourth quarter as planned. Accordingly, our new fair value estimate is $27 per share, with a low uncertainty r...
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