It was all about cost of capital being too high to grow for NGLS in a low-growth world. It was a good offer (over 70 but never finalized). Management owns virtually NO shares and were clearly looking out for themselves instead of shareholders.
These discussions between the companies caused ngls to spike to over 80. It was terminated due to price. Targa now cut in 1/2. Company will not be able to fend off a takeout this time.
This, IMHO, was the purpose in GS downgrade. Get stock down so sharks start to circle and they can do the banking. GS plays hardball..............................................
Possibly could be investors selling the LP and moving to the GP thinking the GP will benefit the most if a buyout were to occur. I am in both and like most long-time holders here am down plenty. Reinvesting all dividends so I guess I should be happy to pick up more shares each quarter.
Hello again to sub 40's. Today could be the most bizarre day of trading yet…TRGP is going up big and ETE is on the prowl with their williams takeover bid rejected. How about a nice 1 for 1 stock ETE and NGLS takeover.
With all that is happening with ETE and Williams a buy out should not be taken off the table, although it is seldom a reason to acquire on such speculation.
True but in this case this is 100% Goldman BS…i'd go with they are a bunch of govt protected crooks. Now the ? is how low will this go? maybe a point or 2 down from here
"I don't understand" ...let me try to help you moth. Don't buy a stock on the way down. It rarely works out. Buy on the incline. Works for me.
I don't understand. If you think this stock is selling for less than its worth, then why are you waiting for a "definite bottom"? And how will you know when there is a "definite bottom"? If there was a foolproof way to know when a stock has bottomed, everybody would be rich.