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Oil & Gas Technical Compendium

Activists take control of EQT board in proxy fight

NEW YORK (Bloomberg) The activist investors at EQT Corp are poised to take control of the largest U.S. natural gas producer’s board, according to people familiar with the matter.Brothers Toby and Derek Rice, who sold Rice Energy Inc. to EQT for $6 billion less than two years ago and together own 3% of the company, are expected to have won seven seats on the 12-member board ahead of a shareholder meeting slated for Wednesday, based on preliminary tallies, the people said, asking not to be identified because the matter is private. The number of seats could still change as more votes come in ahead of the meeting, the people said.The result would put an end to a nine-month battle at the natural gas driller. The Rice brothers had been seeking to.....

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