ETRN - Why EQT & Equitrans Midstream Shares Are Moving Premarket Monday | Benzinga
Shares of EQT Corporation (NYSE:EQT) And Equitrans Midstream Corporation (NYSE:ETRN) are moving in opposite directions premarket today after the companies penned a merger agreement.
Under the terms of the agreement, EQT will acquire Equitrans in an all-stock transaction, which will create a combined company with an enterprise value of over $35 billion. The merger deal has been unanimously approved by the Boards of both companies.
As per the terms, each Equitrans share will be exchanged for 0.3504 shares of EQT, representing an implied value of $12.50 per Equitrans share based on the volume-weighted average price of EQT common stock ...