HALISTER: Jana Confirms EQT Stake, Seeking Split of E&P, Midstream Ops

Jana Confirms EQT Stake, Seeking Split of E&P, Midstream Ops

(Bloomberg) -- Jana Partners in a 13D filing confirms its 5.8% stake in EQT Corp., including options to buy 1.86m shares.
  • Jana intends to have talks with holders, board, mgmt
    • Aims to scuttle Rice Energy acquisition
    • Seeks to pursue an immediate breakup of EQT into a separately traded E&P business and midstream business
    • Wants to optimize capital allocation as well as board structure and composition
  • Jana prepared to nominate directors, solicit proxies
  • NOTE: Earlier, Jana Said to Take EQT Stake, Seek to Scuttle Rice Deal: WSJ
  • RICE down as much as 7.4%; EQT pares earlier 2.9% gain

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
746225Z US (JANA Partners LLC)
EQT US (EQT Corp)

Topics
BFW U.S. Credit News

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