Equitrans Midstream gains after merger with EQT Corp

Equitrans Midstream

11/03/2024 14:55

(Updates)
    ** Shares of oil and gas transportation firm Equitrans
Midstream Corp  ETRN.N  hit a four-year high of $11.70 earlier
in the session; last up 2.3%
    ** EQT Corp  EQT.N  to buy back its former unit ETRN to
create an integrated natural gas provider
    ** Each outstanding ETRN share to be exchanged for 0.3504
shares of EQT stock; representing a value of $12.50 per ETRN
share
    ** Transaction expected to close in Q4 of 2024
    ** EQT down 7.7% at $34.65
    ** Including session's gains, ETRN stock up 12.1% YTD

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))