Toby Rice, CEO of EQT
A little over a month ago MDN brought you the big news that the voraciously hungry EQT is gobbling up the Marcellus assets of yet another driller, Alta Resources, for $2.9 billion (see EQT Buys Alta Res. PA Assets for $2.9B in “Transformative” Deal). We later told you the company is floating $1 billion in new notes to help fund the deal (see Why Did EQT Buy Alta for $2.9B? Floats $1B in IOUs to Finance Deal). Where will the other $1.925 billion come from? By floating 105,306,346 new shares of EQT common stock. Shareholders will meet on July 16 to vote on the deal to buy Alta's Marcellus assets, including the plan to float new stock.
To view this content, log into your member account. (Not a member? Join Today!)
