More Details on EQT/Rice Merger – Who Stays & Who Goes?

On Monday EQT announced what is some of the biggest news MDN has covered in the past few years: EQT is buying Rice Energy (see EQT Buys Rice Energy in $8.2B Deal, Becomes #1 Gas Producer in US). The resulting merger, which will be completed later this year (if regulators and shareholders approve), will result in the country’s largest natural gas-producing company, eclipsing Exxon Mobil and Chesapeake Energy. Yesterday we brought you the initial details of the deal, along with some early analysis and reaction by analysts. Today we dig deeper. Rice Energy filed a Form 8-K with the Securities and Exchange Commission outlining the deal and its components–a 171-page document! No, we haven’t read the whole thing. However, the Pittsburgh Business Times apparently has, and they’ve come up with “seven things you should know” about the deal. One of the things the PBT found in the Form 8-K are details about non-compete clauses for Rice Energy’s top management. What it indicates to us is that the Rice boys and a few others at the top are getting golden parachutes and will leave the company when it merges with EQT…

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