June 19 Energy Transfer Equity LP, the pipeline company controlled by billionaire Kelcy Warren, is near a deal to buy midstream energy company Targa Resources Corp and its operating unit, Bloomberg reported, citing people familiar with the matter.
Targa and its energy logistics unit, Targa Resources Partners LP, could be valued at more than $15 billion, Bloomberg reported, citing two of the people. (bloom.bg/1rcHIYN)
The deal could also involve another midstream energy company, Regency Energy Partners LP, which is controlled by Energy Transfer, the report said.
Targa Resources has a market value of about $5.27 billion and Targa Resources Partners has a market capitalization of about $8 billion.
The transaction would be the biggest North American pipeline deal since Houston-based energy conglomerate Kinder Morgan Inc bought El Paso Pipeline Partners for about $21 billion in 2012, Bloomberg said.
Energy Transfer could pay for the deal in cash and stock, and the deal could be one of the largest ever arranged by Warren, the report said.
Representatives for Energy Transfer and Targa could not be immediately reached for a comment.
Earlier this week, pipeline company Williams Cos Inc agreed to acquire control of natural gas and oil gathering services provider Access Midstream Partners LP for $5.99 billion, aiming to enlarge its role in the U.S. natural gas boom. (Reporting by Ankit Ajmera in Bangalore; Editing by Maju Samuel)