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Deal Between Targa And Energy Transfer Equity Falls Apart

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June 20, 2014

Billionaire Kelcy Warren’s attempt to buy Targa Resources Corp. (NYSE: TRGP) in what would have been the year’s biggest energy deal broke down on June 19, Bloomberg said on June 20. Targa shares slipped the most in more than two years.

Energy Transfer Equity LP (NYSE: ETE), Warren’s pipeline conglomerate, was aiming for a deal that would value Targa and operating unit Targa Resources Partners LP (NYSE: NGLS) at more than $15 billion, two people with knowledge of the matter said. After the talks became public, Targa issued a statement ...

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