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Targa Resources to buy Targa Resources Partners

Published 2015-11-03, 07:43 a/m
© Reuters.  Targa Resources to buy Targa Resources Partners
NG
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Nov 3 (Reuters) - Natural gas pipeline company Targa
Resources Corp (TRC) said it would acquire the common
units of Targa Resources Partners LP (TRP) it did not
already own, in a deal that valued TRP at about $6.67 billion.
TRC, which has a stake of about 8.8 percent in TRP, said on
Tuesday it has offered 0.62 of its share for each TRP unit.
The offer values TRP at $36.09 per share, and represents a
premium of 18.4 percent to the stock's closing price on Monday,
according to Reuters' calculations.

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