Handicapping the EQT/Rice Proxy Fight – Does it Matter Who Wins?

Photo credit: LA Times

Who’s winning the proxy war to control the board of EQT Corporation? According to an article in the Pittsburgh Post-Gazette, the ultimate outcome doesn’t much matter, at least for investors. “Investors love a proxy fight,” begins the article. Why? Because the share price for the company’s stock almost always rises during a proxy fight. As for who has more momentum going into next week’s July 10 annual meeting, it’s hard to deny that the Rice brothers have the big mo. The #1 shareholder in EQT, T. Rowe Price (owns 10% of all EQT stock), along with two other “top 10” EQT shareholders, are backing the Rice plan.

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