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JANA Partners Starts EQT Stake, Opposes Rice Transaction

Barry Rosenstein's activist hedge fund firm JANA Partners has filed a 13D on shares of EQT (EQT). Per the filing, JANA now owns 5.8% of EQT with over 10.13 million shares (inclusive of options to purchase 1.86 million shares).

This is a newly disclosed equity position for JANA. They purchased shares in April, May and June at prices ranging from $53.xx to $60.xx.

JANA's Letter to EQT Board

Rosenstein's firm also sent a letter to the board of directions and say they invested because "we believe that the Company trades at a...