US FTC approves deal for natgas producer EQT to buy THQ Appalachia
2023.08.16 17:14
© Reuters. FILE PHOTO: Signage is seen at the Federal Trade Commission headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo
(Reuters) – EQT Corp (NYSE:), the biggest U.S. producer, said on Wednesday that it had won antitrust approval to close a deal to buy Quantum (NASDAQ:) Energy-backed THQ Appalachia I LLC and associated infrastructure.
The proposed deal, valued at $5.2 billion, had been announced in September 2022.
EQT said that the parties had satisfied conditions related to antitrust law and could move forward with closing the transaction.
The U.S. Federal Trade Commission said on Wednesday it had moved to resolve antitrust concerns over the transaction by hammering out a consent order that “prevents entanglements” between Quantum Energy Partners and EQT Corp.
The agreement would bar Quantum from having a seat on EQT’s board, requires Quantum to divest EQT shares and puts other restrictions on the deal to ensure competition in the energy market.
