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Targa Resources rolls up a pair of Atlas partnerships

Oct 13, 2014 - The Deal Pipeline
Mergers and Acquisitions

Atlas Energy LP (ATLS) said Monday that it and unit Atlas Pipeline Partners LP (APL) agreed to be acquired by Targa Resources Corp. (TRGP) and Targa Resources Partners LP (NGLS) for $7.7 billion in cash, stock and assumed debt, continuing the consolidation of the midstream industry.

The deal comes after Targa Resources Corp. walked away from a takeout by Energy Transfer Equity LP in June for a rumored $16 billion.

Targa claimed the combination of Targa Resources Partners and Atlas Pi...