EQT agrees $13 billion all-stock deal for Range Resources
Reuters reports EQT will buy Range Resources in a $13 billion all-stock deal, while Ovintiv agrees to acquire Logan Energy for about $890 million in cash.
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what happened
Reuters reports several large transactions announced on Monday before 1330 GMT. The biggest is EQT's purchase of Range Resources for $13 billion, paid entirely in shares. The combined company would become the largest US natural gas producer, a bet on rising demand from LNG exports and power generation.
Ovintiv will buy Canadian producer Logan Energy in an all-cash transaction valuing it at about $890 million including debt. CAE is selling its Flightscape airline software unit to SITA for $500 million including debt. Eni has also completed the sale of its Nigerian unit AENR to APEX.
In financial services, Itau agreed to acquire all shares of artificial intelligence startup NeoSpace AI. According to two people familiar with the matter, HSBC will fold Hang Seng Bank's asset management arm into its fund business. Separately, Ingenia Communities received a A$2.2 billion ($1.54 billion) takeover proposal from AVID Property Group, lifting the Australian developer's shares to their highest close in nine months.
why it matters
The scale and direction of these deals matter for markets. Consolidation among US gas producers reflects a push to capture LNG-linked demand, while acquisitions in Asian banking and Australian property show large players seeking growth through purchases. Deals of this size typically move the shares of the companies involved and can shift sector sentiment.
market impact
US gas producers: consolidation and bets on LNG demand support the sector.
tags
instruments
sources
- Mergers and acquisitions — Reuters, 26 October 2026 at 13:40 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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