© 2017 The Texas Lawbook.
By Natalie Posgate
(June 19) – Lawyers at Vinson & Elkins are advising on Monday’s big $6.7 billion merger between two Pennsylvania energy companies, Rice Energy and EQT Corp.
Under the agreement, EQT will purchase Rice, V&E’s client, in a cash and stock transaction that includes approximately $1.5 billion in net debt and preferred equity, which EQT will either assume or refinance.
The announcement comes exactly eight months after Rice closed its acquisition Englewood, Colo.-based Vantage Energy and Vantage Energy II for $2.7 billion.
Rice General Counsel William E. Jordan, a V&E alum, turned to a primarily Houston-based team from his alma mater firm to handle Monday’s deal. Corporate partners Steve Gill and Doug McWilliams and associate James Garrett led the transaction. They received assistance from associates Leonard Wood, Yong Eoh, David Bumgardner and Greg Henson.
Other key deal team members included partner David D’Alessandro, counsel Katherine Mull and associate Karsten Busby (executive compensation/benefits); partner Sean Becker (labor & employment); partners John Lynch and Ryan Carney and associates Lina Dimachkieh and Liz Snyder (tax); partner Larry Nettles and associate Matt Dobbins (environmental); and a Washington, D.C. attorney specializing in antitrust.
V&E has represented Rice on previous matters, including a $375 million equity investment it secured from EIG Global Energy Partners in 2015 that went toward the company’s Marcellus and Utica shale development program and Rice’s midstream affiliate, Rice Midstream Holdings. McWilliams led that transaction for Rice.
EQT General Counsel Lew Gardner hired lawyers from Wachtell, Lipton, Rosen & Katz.
The financial advisors were Citigroup for EQT and Barclays for Rice.
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