Deals
Targa Resources Rebuffed Takeover Interest From Larger Rival Williams
- Targa viewed Williams’ overture as undervaluing company
- Natural gas pipeline operator Targa has $32 billion market cap
The oil and gas sector has been a major driver of mergers and acquisitions activity this year.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Targa Resources Corp. rebuffed informal takeover interest from larger rival Williams Cos. in recent months, people with knowledge of the matter said, in another signal of the sustained appetite for consolidation in the pipeline industry.
The Houston-based natural gas pipeline operator viewed the overture from Williams as undervaluing the company, according to the people, who asked not to be identified discussing confidential information. Williams is still discussing the feasibility of a transaction, the people said.