- EQM’s acquisition of EQT Corporation’s (NYSE: EQT) retained midstream assets and Gulfport Energy’s (NYSE: GPOR) 25% ownership in the Strike Force Gathering System for $1.69 billion. EQT will receive $1.15 billion in cash and 5.9 million EQM common units and Gulfport Energy will receive $175 million in cash.
- The merger of EQM and RMP in a unit-for-unit transaction at an exchange ratio of 0.3319x, which implies a transaction value of $2.4 billion, including the assumption of RMP debt. The RMP debt balance as of March 31, 2018 was $325 million.
- EQGP’s purchase of RMP’s Incentive Distribution Rights (RMP IDRs) from EQT for 36.3 million EQGP common units.
Baker Botts represented EQT Corporation in this transaction.
Baker Botts Lawyers/Office Involved:
Corporate:Michael Bengtson (Partner, New York); Joshua Davidson (Partner, Houston); John Kaercher (Senior Associate, Austin); Rachel Ratcliffe (Associate, Austin); and Leah Davis (Associate, Austin)
Tax: Michael Bresson (Partner, Houston) and Jared Meier (Senior Associate, Houston)
For more information, please see EQT’s news release by clicking here.
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