- EQT (NYSE:EQT -0.1%) shareholder Chapter IV Investors says it is encouraging the company to evaluate a potential stock-for-stock merger with either Antero Resources (AR +3.9%) or Range Resources (RRC -1.4%), and contrast the options vs. a go-it-alone strategy.
- Chapter IV says either merger would create the largest and best-positioned natural gas producer in the U.S., with an expected pro forma enterprise value exceeding $25B, and would control a complementary, high-growth midstream business that would provide cash flow stability and funding to accelerate its high-return E&P business.
- RRC says it has not been contacted by EQT about a potential merger and does not to initiate any such discussions.