June 19 (Reuters) - U.S. oil and gas company EQT Corp said on Monday it would buy Rice Energy in a cash-and-stock deal worth $6.7 billion to expand its natural gas business.
Rice Energy shareholders will receive $5.30 per share in cash and 0.37 EQT shares for each share they hold, EQT said.
The offer translates to $27.05 per Rice Energy share, representing a premium of 37.4 percent to the stock's Friday closing price, according to Reuters calculations.
EQT said the deal would give it access to Rice Energy's midstream assets, including a 92 percent interest in Rice Midstream GP Holdings. EQT will take on about $1.5 billion in debt, through the deal.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Sai Sachin Ravikumar and Saumyadeb Chakrabarty) ((firstname.lastname@example.org; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 2405; Reuters Messaging: email@example.com))
© Copyright Zawya. All Rights Reserved.