EQT Wins Glass Lewis Support in Fight With Rice Brothers
Rig hands move equipment at a hydraulic fracturing site owned by EQT Corp. located atop the Marcellus shale rock formation.
Photographer: Ty Wright/Bloomberg
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EQT Corp., the largest U.S. natural gas producer, has won the support of a prominent shareholder advisory firm that recommended shareholders support its slate of directors over another being presented by dissident shareholders.
Glass Lewis & Co. said in a report Friday that the company was headed in the right direction after changes to management and the board in recent months. It recommended shareholders not support an effort to replace the majority of the board by stakeholders Toby and Derek Rice.