US FTC approves deal for natgas producer EQT to buy THQ Appalachia
Reuters
Published Aug 16, 2023 05:00PM ET
Updated Aug 17, 2023 12:11PM ET
(Reuters) - EQT Corp (NYSE:EQT), the biggest U.S. natural gas producer, said on Wednesday that it had won antitrust approval to close a deal to buy Quantum (NASDAQ:QMCO) Energy-backed THQ Appalachia I LLC and associated infrastructure.
The proposed deal, valued at $5.2 billion, had been announced in September 2022.
EQT said that the parties had satisfied conditions related to antitrust law and could move forward with closing the transaction.
The U.S. Federal Trade Commission said on Wednesday it had moved to resolve antitrust concerns over the transaction by hammering out a consent order that "prevents entanglements" between Quantum Energy Partners and EQT Corp.
The agreement would bar Quantum from having a seat on EQT's board, requires Quantum to divest EQT shares and puts other restrictions on the deal to ensure competition in the energy market.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.