Atlas Pipeline and Targa Resources merger completed

Atlas Energy, L.P has announced the completion of the merger transactions of Atlas Energy with a subsidiary of Targa Resources Corp. and Atlas Pipeline with a subsidiary of Targa Resources Partners LP.

The consummation of the mergers follows the approval of the merger by ATLS and APL unitholders as well as TRC stockholders at special meetings that occurred on Friday 20 February 2015.

As a result of the ATLS Merger, each ATLS investor of record as of the close of business on Friday 27 February 2015 will receive US$9.12 in cash and 0.1809 in TRC shares for each ATLS unit owned.

In addition, at the close of business on Friday 27 February 2015 each ATLS unitholder will receive one Atlas Energy Group, LLC common unit for every two ATLS common units held as of the record date for the distribution.

AEG will hold Atlas Energy's non-midstream assets as a result of the spin-off from ATLS, and will trade on the NYSE under the ticker symbol ‘ATLS’ beginning Monday 2 March 2015.

Following the APL Merger, each APL investor of record as of the close of business on Friday27 February 2015 will receive 0.5846 units of TRP and US$1.26 in cash for each APL unit owned.

Edited from source by Elizabeth Corner

Read the article online at: https://www.worldpipelines.com/business-news/03032015/atlas-pipeline-and-targa-resources-merger-completed/