June 19, 2017 / 9:18 PM / 2 months ago

BRIEF-EQT agrees to increase size of board to 13 directors after Rice Energy merger

June 19 (Reuters) - EQT Corp:

* EQT says co agreed, subject to approval of shareholders, to increase size of board to 13 directors upon effective time of merger with Rice Energy - SEC filing

* EQT Corp - upon termination of deal under certain specified circumstances, co may be required to pay Rice, or Rice to pay co, a termination fee of $255 million

* EQT Corp - also agreed, Daniel J. Rice IV and Robert F. Vagt to become members of EQT board upon effective time of merger

* EQT - if co does not receive shareholder approval to increase board size, co to increase size of its board to 12 directors, appoint either Rice or Vagt

* EQT - if deal terminated because of failure of a party's shareholders to approve proposals, party to reimburse other party in amount equal to $67 million

* EQT Corp - in connection with deal, co entered commitment letter with citigroup global markets inc

* EQT - pursuant to commitment letter, citi committed to provide, subject to customary closing conditions, up to $1.4 billion of senior unsecured bridge loans Source text: (bit.ly/2rOuXcf) Further company coverage:

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