Equitrans Midstream Corporation (ETRN) has provided an announcement.
Equitrans Midstream Corporation and EQT Corporation have announced a definitive merger agreement, set to transform Equitrans into an indirect wholly owned subsidiary of EQT. Under the agreement, each share of Equitrans common stock will be automatically converted into a right to receive a proportionate amount of EQT common stock. The deal is designed to streamline operations and management, with the potential for significant financial and operational synergies. The arrangement includes various clauses on non-solicitation, termination rights, and fees, as well as conditions for approval from shareholders and regulatory bodies. The business combination is anticipated to create a more competitive entity in the energy sector.
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