Kirkland Advises EQT on Acquisition of Range Resources Creating a Combined Company with $50 Billion Enterprise Value
Kirkland & Ellis is advising EQT Corporation (NYSE: EQT) on a definitive merger agreement under which EQT will acquire Range Resources Corporation (NYSE: RRC) in an all-stock transaction, to create America’s leading natural gas company, with a pro forma enterprise value of over $50 billion. The combination brings together two of the highest-quality natural gas assets in North America, creating America’s largest and only vertically integrated natural gas producer with leading inventory depth and low-cost structure. As a result of the transaction, EQT’s existing shareholders are expected to own approximately 73% of the combined company and Range’s shareholders are expected to own approximately 27%. The transaction is expected to close during the first quarter of 2027, subject to the receipt of required regulatory approvals and clearances, approval of the transaction by shareholders of both EQT and Range and the satisfaction of other customary closing conditions.
Read the transaction press release
The Kirkland team included corporate lawyers David Feirstein, Cy Jones, Steven Choi, Bobbi Worbington, Phil Greenfield, Megan Smit, Brittney Fricks, Adam Pile and Lauren Lovett; executive compensation lawyers Stephen Jacobson, Lany Villalobos and John Hagan; capital markets lawyers Matt Pacey, Lanchi Huynh, Wilson Beattie and Lianne Kim; real assets lawyers Lindsey Jaquillard and Lyle Paul; tax lawyers Sara Zablotney, Joe Tobias and Brooke Schafer; debt finance lawyers Rachael Lichman and Brittany Taylor; energy regulatory lawyers Damien Lyster and Drew Picard; employee benefits lawyers Justin Coddington and Stew Dunoskovic; employment & labor lawyers Christine Lacku and Mallory McKenzie; and environmental transaction lawyers James Dolphin and Courtney Tibbetts.
