Targa Shares Rocket Higher Amid Rumor Of Interest From Energy Transfer

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Targa Resources Corp.
TRGP
soared more than 20 percent as the market was about to close Thursday on a report the company will be acquired by a limited partnership run by Kelcy Warren. The report, by Bloomberg news service, said Warren's Energy Transfer Equity LP
ETE
would also acquire Targa's operating unit, Targa Resources Partners LP,
NGLS
which rose 17 percent on the news. The combined deal could be valued at between $15 and $17 billion, according to Bloomberg, citing unnamed sources. An agreement could be reached next week and may involve Regency Energy Partners LP
RGP
which is controlled by Warren, Bloomberg said. Targa Resources closed Thursday at $150.62 a share, up 20.45 percent. Tagra Resources Partners closed at $81.55 a share, up 17.74 percent.
Posted In: NewsRumorsM&AMovers
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