Equitrans Midstream rises after merger with EQT Corp

Equitrans Midstream

11/03/2024 11:21

(Updates)
    ** Shares of oil and gas transportation firm Equitrans
Midstream Corp  ETRN.N  rise as much as 8.9% to $12.14 premarket
    ** EQT Corp  EQT.N  to buy back its former unit ETRN to
create an integrated natural gas provider valued at more than
$35 bln
        ** 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 ~3% at $36.40
    ** Up to last close, ETRN stock up ~10.3% YTD

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