Deal Closes Intact

The most likely path is that EQT and Range complete the merger with limited changes, because U.S. regulators have historically allowed upstream energy consolidation when production remains fragmented across basins. Investors focus on Appalachian scale, debt capacity, and potential operating synergies tied to drilling, gathering, and LNG-linked demand growth.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.