The Daily Buyout

Tuesday, October 27, 2026

The Daily Buyout

53 deals · $31.9B announced

Natural gas leads the day: EQT is buying Range Resources in an all-stock deal that creates the largest US gas producer. Intel makes its second-biggest acquisition ever with a quantum software bet, and a busy Monday brings fresh BDC consolidation, a $5.7B hospital-backed buyout and a long tail of smaller deals.

Top deal of the day

EQT to buy Range Resources for about $12.8B, creating the top US gas producer

$12.8BStrategic acquisitionEnergy & Utilities

EQT agreed to acquire Range Resources in an all-stock deal, giving Range holders 0.987 EQT shares per share. Reuters valued the equity at about $12.83 billion, or $54.91 a share, a roughly 20.6% premium. Closing is expected in Q1 2027 pending regulatory and shareholder approvals, and two Range representatives will join EQT's board.

Why it matters: The combination creates the largest US natural gas producer; Range shares rose 11% while EQT fell 8% on the news.

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