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Targa Buys Stakeholder Midstream for $1.25B

Targa Resources said Monday that it agreed to acquire Stakeholder Midstream for $1.25 billion in cash, expanding the Houston midstream services provider’s footprint in the Permian Basin. Latham & Watkins represented Targa with a national team led by Houston partners Ryan Maierson and James Garrett. Gerald Shrader has been Targa’s general counsel since December 2023.

Willkie Farr & Gallagher and Clifford Chance advised Stakeholder Midstream. Willkie’s Texas-based team was led by partner Sarah McLean in Houston. The Clifford Chance team was led by Houston partners Todd Lowther and Ty’Meka Reeves-Sobers.

Jason Philyaw

Jason compiles the weekly Corporate Deal Tracker Roundup and covers the dealmakers behind the deals.

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