Targa Resources Corp. To Acquire Blackstone Energy Partners’ 25% Interest In Grand Prix Ngl Pipeline For $1.05 Billion
Jan 03, 2023•over 2 years ago
Acquiring Company
Targa Resources
Acquired Company
Interest
Natural ResourcesEnergy
Description
Targa Resources Corp. (NYSE: TRGP) ("Targa" or the "Company") announced today a definitive agreement to acquire Blackstone Energy Partners’ (“Blackstone”) 25 percent interest in Targa’s Grand Prix NGL Pipeline (“Grand Prix”) for $1.05 billion in cash plus customary working capital adjustments. Targa will own 100 percent of Grand Prix upon closing.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed