EQT shares rise on antitrust approval to close THQ Appalachia deal

Inductance Energy

17/08/2023 14:42

** Shares of U.S.-based natural gas producer EQT  EQT.N  up
2.4% at $42.98 in early trading  
    ** Says it won antitrust approval to close a $5.2-bln deal
to buy Quantum Energy-backed THQ Appalachia and its associated
infrastructure
    ** Proposed deal was announced in September 2022
    ** Agreement would bar Quantum from having a seat on EQT's
board; also requires Quantum to divest EQT shares and puts other
restrictions to ensure competition in the energy market
    ** "Despite the lower gas pricing since the deal's
announcement, we still view the closing of the transaction as a
positive" - Truist Securities
    ** Sixteen of 23 brokerages rate the stock "buy" or higher
and seven "hold"; their median PT is $48.00 
    ** EQT shares up 24% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))