Suryaa Business Desk: The stage is set for another mega deal in the global energy sector. US-based leading natural gas producer Equity... The stage is set for another mega deal in the global energy sector. Equity Corporation, a leading American natural gas producer, is negotiating to buy its rival Range Resources for more than 50 billion dollars, according to market sources. Equity has embarked on this historic merger with the aim of gaining full control over America's vast shale gas reserves and further consolidating its position in the global energy market.
The news of this huge deal has become a hot topic in the energy sector. Analysts believe the merger of the two giants could be a turning point for the energy sector at a time when energy security and demand for natural gas are rapidly changing globally. The acquisition will make Equity an even more formidable force as America's largest natural gas producer. The company is likely to play a key role in price control in international markets, besides reducing operating cost by massively increasing production capacity. Discussions on the draft and financial transactions of this agreement are going on in the stock market.
A series of such mergers and acquisitions in the energy sector is completely changing the global supply chain and market pattern. Corporate companies are taking such strategic steps keeping in view the growing popularity of natural gas as an eco-friendly energy source. Economists predict that this huge deal between Equity and Range Resources is likely to be officially announced soon, and it will have a significant impact on the global economy.