Having received approval from about 84 percent of its shareholders, EQT expects the transaction to close by Nov. 13. The Rice Energy deal will cost EQT $6.7 billion. It’s the largest deal signed in the U.S. upstream industry in three years.
In the deal, Rice Energy stockholders will get 0.37 EQT shares and $5.30 in cash. EQT will also refinance Rice Energy’s long-term debt worth $1.5 billion In the combined entity, EQT shareholders will hold around 65 percent.