Hedge fund presses EQT to split company after Rice Energy acquisition closes

Reuters reports that hedge fund D.E. Shaw & Co. LP has urged Pittsburgh-based EQT Corp. to split into two parts after the company closes its $6.7 billion acquisition of Rice Energy Inc. and to speed up efforts to boost EQT’s stock price. The news service says the move by D.E. Shaw “marks a rare activist stance taken by the $40 billion hedge fund and pits it next to activist fund Jana Partners, which is urging EQT to scrap the Rice deal.” EQT and Rice have large oil and natural gas holdings in the Marcellus and Utica shale plays. For more, read the full story.

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