NEW YORK (Thomson Financial) - Targa Resources Partners LP Thursday
confirmed that it had made an offer to acquire MarkWest Hydrocarbon Inc. and
MarkWest Energy Partners.
Although Targa requested additional information and asked for discussions
with MarkWest's management, the MarkWest entities never provided the information
and the parties never entered into substantive negotiations, Targa said.
Any deal would have been contingent on both entities accepting Targa's
offer, the company said. Targa said that MarkWest Hydrocarbon considered Targa's
proposal likely to lead to a superior proposal, but that MarkWest Energy said it
was not for sale and refused to discuss a deal.
Shares of Targa closed at $26.50 on Wednesday.
Christie Rizk
cr/pc
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