Stop Press! EQT Buying Equitrans Midstream in All-Stock Deal

We'll be darned. We've been writing the MDN blog/news site since 2009, and a LOT has happened over those years. One of the more noteworthy events was when so-called activist investors forced EQT Corporation to split itself into two companies, which ultimately became EQT Corporation and Equitrans Midstream in November 2018 (see It’s Here! EQT Midstream Division Now Split into Standalone Co.). Equitrans became a new, completely separate company with its own board of directors and its own set of investors. And now, five-and-a-half years later, EQT dropped the bombshell announcement this morning that it has cut a deal to buy back Equitrans in an all-stock deal that creates a new company worth $35 billion. We wonder what the "activist" investors think of that.

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