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Stock Market & Financial Investment News

News Breaks
January 8, 2013
16:31 EDTNGLSTarga Resources Partners acquires additional property on Houston Ship Channel
Targa Resources Partners announced that it has acquired additional property on the Houston Ship Channel that provides expansion potential for both its Petroleum Logistics clean fuels business and its propane/butane export capabilities. Targa Patriot, which is located about two miles from the Partnership's Galena Park Marine Terminal, includes an existing dock, acreage for expansion build-out, an existing rail siding, and nearby access to the Colonial/Explorer refined products pipeline interconnect hub. The initial investment including acquisition of the property and dock upgrade and refurbishment is approximately $25M. Further plans for clean fuels and/or propane/butane export activity are being developed and could significantly increase growth capital expenditures over time.
News For NGLS From The Last 14 Days
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February 12, 2016
11:51 EDTNGLSTarga Resources, Targa Resources Partners stockholders approve merger
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February 1, 2016
18:21 EDTNGLSTarga Resources' acquisition of Targa Resources Partners receives recommendation
Targa Resources (TRGP) announced that three proxy voting advisory firms, Institutional Shareholder Services, Glass, Lewis & Co. and Egan-Jones Proxy Services, have recommended that their clients vote in favor of the proposals related to TRC acquiring all of the outstanding common units of Targa Resources Partners (NGLS) that it does not already own. The Board of Directors of TRC, the Conflicts Committee of the Board of Directors of the general partner of TRP and the Board of Directors of the General Partner of TRP unanimously approved the merger agreement. Special meetings for TRC stockholders and TRP common unitholders will be held on February 12. Subject to the voting approvals, and certain other customary closing conditions, the merger is expected to close on February 17.

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