September 14, 2017 / 10:53 AM / a year ago

Hedge fund urges EQT to split up after Rice Energy deal

Sept 14 (Reuters) - Hedge fund D.E. Shaw & Co LP said on Thursday that EQT Corp, which is buying Rice Energy Inc in a $6.7 billion deal, should split itself into separate production and midstream units.

D.E. Shaw, which owns about 4 percent in EQT, also urged the company to merge its pipeline business with Rice’s pipeline Master Limited Partnership, Rice Midstream Partners LP.

EQT should appoint directors with “relevant executive midstream experience” to oversee the execution of the plan by the first half of 2018, the hedge fund said.

EQT’s deal to buy Rice was opposed by activist investor Jana Partners LLC in July. (Reporting by John Benny in Bengaluru; Editing by Anil D’Silva)

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