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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Tue., Jun. 28, 7:44 PM

Slide #83. Targa Resources Corp. Lucid Energy

Acquirer: Targa Resources Corp. (NYSE:TRGP)
Acquiree: Lucid Energy
Details: Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") and Lucid Energy Group, a leading privately held natural gas processor in the Permian Basin, announced today a definitive agreement under which a wholly-owned subsidiary of Targa will acquire Lucid Energy Delaware, LLC ("Lucid") from Riverstone Holdings LLC ("Riverstone") and Goldman Sachs Asset Management ("Goldman Sachs"), for $3.55 billion in cash.

Targa Resources is a provider of midstream services. Co. operates in two segments: Gathering and Processing, which consists of gathering, compressing, treating, processing, transporting and purchasing and selling natural gas and gathering, storing, terminaling and purchasing and selling crude oil; and Logistics and Transportation, which includes activities necessary to convert mixed natural gas liquids (NGLs) into NGL products and includes other assets and services such as transporting, storing, fractionating, terminaling, and marketing of NGLs and NGL products, including services to LPG exporters and certain natural gas supply and marketing activities in support of its other businesses.

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Company Name:  Targa Resources Corp
Website:  www.targaresources.com
Sector:  Oil & Gas Refining & Marketing
Number of ETFs Holding TRGP:  85
Total Market Value Held by ETFs:  $2.46B
Total Market Capitalization:  $13.26B
% of Market Cap. Held by ETFs:  18.54%
 

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June 28, 2022    7:44 PM Eastern
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Strong Buy (3.92 out of 4)
66th percentile
(ranked higher than approx. 66% of all stocks covered)

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