Reunited: EQT Closes on Deal to Buy Equitrans Midstream for $5.4B

In November 2018, under intense pressure from activist investors, EQT split itself into two companies: EQT Corporation and Equitrans Midstream (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. Five-and-a-half years later (in March of this year), EQT dropped the bombshell announcement that it had cut a deal to buy back Equitrans in an all-stock deal worth $5.4 billion (see Stop Press! EQT Buying Equitrans Midstream in All-Stock Deal). The deal is now done. The two companies were reunited and became a single company yesterday.

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