Targa Resources to acquire Stakeholder Midstream for $1.25bn.

Targa Resources, a publicly traded midstream infrastructure company in North America, agreed to acquire Stakeholder Midstream, an independent midstream oil and gas company, for $1.25bn. “This acquisition is a nice bolt-on asset that has meaningful free cash flow supported by a stable to modestly growing volume profile with minimal capital needs and executed at an attractive valuation. We believe this transaction is a continuation of our strategy of identifying opportunities to create shareholder value with balance sheet strength,” Matt Meloy, Targa Chief Executive Officer.