EQT’s merger with Equitrans removes an important federal antitrust hurdle

The merger of EQT Corporation and Equitrans Midstream into one company took a huge step forward on Wednesday, when the grace period under the Hart-Scott-Rodino (HSR) antitrust law expired. In November 2018, under intense pressure from activist investors, EQT split into two companies: EQT Corporation and Equitrans Midstream (see It’s Here! EQT Midstream Division Now Split into Standalone Co.). Equitrans became a new, completely separate company with its own management board and its own group of investors. Five and a half years later (in March of this year), EQT backtracked on the sensational announcement that it had entered into an agreement to buy back Equitrans in an all-stock deal valued at $5.4 billion (see Stop Press! EQT Buys Equitrans Midstream in Deal covering all shares).