Brothers Lead Showdown With US Gas Giant



Brothers Lead Showdown With US Gas Giant
The nine-month battle for control of America's largest natural gas producer has come down to a choice: The old guard, or the "shalennials."

EQT’s board slate has the backing of proxy advisory firm Glass Lewis & Co., as well as the five independent board candidates supported by both EQT and the Rice group.

Regardless of the outcome of the proxy battle, the dispute underscores how explorers are struggling to attract capital amid concerns about profitability, according to Katie Bays, co-founder of Washington-based consulting firm Sandhill Strategy.

“The proxy fight with EQT could ultimately be a negative for the industry overall,” Bays said in a July 3 interview. “You create an Icarus problem where companies get bigger, they fly closer to the sun and they get more scrutiny from investors.”

--With assistance from Scott Deveau and Ryan Collins.

To contact the reporter on this story:
Naureen S. Malik in New York at nmalik28@bloomberg.net

To contact the editors responsible for this story:
Simon Casey at scasey4@bloomberg.net
Christine Buurma, Pratish Narayanan


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