Targa Resources Partners (NGLS) Misses Q3 EPS by 8c

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Targa Resources (TRGP) to Acquire Remaining Targa Resources Partners (NGLS) Shares

November 3, 2015 7:15 AM EST

Targa Resources (NYSE: TRGP) and Targa Resources Partners LP (NYSE: NGLS) announced that TRC will acquire all of the outstanding common units of the Partnership not already owned by TRC in an all stock-for-unit transaction at a ratio of 0.62 TRC common shares per common unit of Targa Resources Partners. The implied TRP unit price represents an 18% premium to its volume-weighted average price during the 10 trading days ending November 2, 2015.

Following this transaction, TRC expects dividend growth of 15% for 2016 and greater than 10% compound annual dividend growth through 2018,... More