Mon, Jan. 26, 9:15 AM
- Energy Transfer Partners (NYSE:ETP) agrees to acquire Regency Energy Partners (NYSE:RGP) for ~$18B, including the assumption of $6.8B in debt.
- RGP unitholders will receive 0.4066 ETP common units and $0.32/unit, implying an all-in price for RGP of $26.89/unit, representing a ~13% premium to RGP's Friday closing price.
- The merger bringing together two companies both controlled by parent company Energy Transfer Equity (NYSE:ETE) would make ETP the second largest MLP, with operations in substantially all major producing areas in the U.S.,
- RGP +13.4% premarket.
Jun. 20, 2014, 7:20 AM
- Targa Resources (TRGP) confirmed high-level preliminary discussions on a sale to Energy Transfer Partners (ETP), but says the talks ended without any deal. There are no assurances talks could resume.
- TRGP -13.7%, NGLS -9.1%, RGP +1%, ETE +0.5% premarket.
- Source: Press Release
- Previously: Bloomberg: Energy Transfer near deal to buy Targa Resources
Dec. 23, 2013, 6:39 PM
- Investors love Eagle Rock's (EROC) plan to sell ~$1.3B of Texas Panhandle pipeline assets to Regency Energy Partners (RGP); it's "a great Christmas present for EROC unitholders," Robert Baird analyst Ethan Bellamy says.
- With increased capital and lower debt, EROC expects to be much more focused on mergers and acquisitions next year, CEO Joseph Mills said in a conference call.
- Meanwhile, RGP expects the deal will be accretive to cash flow and will recommend a 6%-8% increase in distributions this year.
- Energy Transfer Equity (ETE) plans to support RGP - which is part of the Energy Transfer family of MLPs - by committing to purchase $400M RGP units as part of the deal, and is the "real ultimate winner" of RGP's expansion and expectations for additional cash flow, the Baird analyst says.
- In today's trading, EROC finished +12.5%, RGP +7.7%, ETE +1.3%, ETP +2.4%.
Dec. 23, 2013, 9:37 AM
- It's a busy day for Regency Energy Partners (RGP +2.9%), which agrees to acquire the midstream assets of Hoover Energy Partners for ~$290M; it says the deal will complement its existing footprint in the southern portion of the Delaware Basin.
- RGP had also announced the $1.3B purchase of certain pipeline and processing plant operations from Eagle Rock Energy Partners.
Dec. 23, 2013, 8:31 AM
- Regency Energy Partners (RGP) agrees to acquire Eagle Rock Energy Partners' (EROC) midstream business in a deal valued at $1.325B.
- RGP says the deal will complement its core gathering and processing business, and when combined with the proposed acquisition of PVR Resources, will further diversify its basin exposure in the Texas Panhandle, east Texas and south Texas.
- EROC's midstream assets include ~8,100 miles of gathering pipeline and more than 800M cf/day of processing plants, and cash flows are supported by large, long-term acreage dedications.
- Due to the expected cash flow accretion from the transaction, RGP anticipates distribution increases of 6%-8% for FY 2014.
- RGP +3.1% premarket.
Oct. 10, 2013, 8:12 AM
- Regency Energy Partners (RGP) agrees to acquire PVR Partners (PVR) in a $5.6B deal that includes the assumption of $1.8B in net debt.
- RGP says its offer is valued at $28.68 per PVR unit, a 26% premium over Wednesday’s close.
- The acquisition will create a leading gas gathering and processing platform with a scaled presence across North America's premier high-growth unconventional oil and gas plays in Appalachia, west Texas, south Texas, the Mid-Continent and north Louisiana.
- PVR +19.6% premarket.
Feb. 28, 2013, 4:15 AM
Feb. 28, 2013, 4:14 AMRegency Energy Partners (RGP) will acquire Southern Union Gathering Company (SUGC) for $1.5B in a deal that will provide Regency with a 5,600 mile gas gathering system and expand its presence in the Permian Basin in the southern U.S. Regency is buying SUGC from Southern Union Company (SUG), a jointly owned affiliate of Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP). (PR) | Comment!
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