Atlas Energy And Atlas Pipeline Complete Mergers With Targa Resources Corp. And Targa Resources Partners

PHILADELPHIA, Feb. 27, 2015 /PRNewswire/ -- Atlas Energy, L.P. (NYSE: ATLS) ("Atlas Energy" or "ATLS") and its midstream oil and gas subsidiary, Atlas Pipeline Partners, L.P. (NYSE: APL) ("Atlas Pipeline" or "APL"), have announced the completion of the merger transactions of Atlas Energy with a subsidiary of Targa Resources Corp. (NYSE: TRGP) ("TRC") ("ATLS Merger") and Atlas Pipeline with a subsidiary of Targa Resources Partners LP ("TRP") ("APL Merger"). The consummation of the mergers follows the approval of the merger by ATLS and APL unitholders as well as TRC stockholders at special meetings which occurred on Friday, February 20, 2015.

As a result of the ATLS Merger, each ATLS investor of record as of the close of business on Friday, February 27, 2015 will receive $9.12 in cash and 0.1809 in TRC shares for each ATLS unit owned. In addition, at the close of business on Friday, February 27, 2015 each ATLS unitholder will receive one Atlas Energy Group, LLC ("AEG") 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, March 2, 2015.

Following the APL Merger, each APL investor of record as of the close of business on Friday, February 27, 2015 will receive 0.5846 units of TRP and $1.26 in cash for each APL unit owned.

Atlas Energy Group, L.L.C. is a master limited partnership which, subsequent to the spin-off of Atlas Energy, L.P.'s non-midstream assets, will own the following interests: all of the general partner interest, incentive distribution rights and an approximate 28% limited partner interest in its upstream oil & gas subsidiary, Atlas Resource Partners, L.P.; the general partner interests, incentive distribution rights and limited partner interests in its private E&P development subsidiary; and a general partner interest in Lightfoot Capital Partners, an entity that invests directly in energy-related businesses and assets. For more information, please visit our website at www.atlasenergy.com, or contact Investor Relations at [email protected].

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein are "forward-looking statements" that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Readers are cautioned that any forward-looking information is not a guarantee of future performance.  Risks and uncertainties related to the proposed transaction include, among others: the risk that the other conditions to the closing of the mergers are not satisfied; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the mergers; competitive responses to the proposed merger; costs and difficulties related to the integration of ATLS's and APL's businesses and operations with TRC's and TRP's business and operations; the inability to obtain, or delays in obtaining, the cost savings and synergies contemplated by the mergers; uncertainty of the expected financial performance of the combined company following completion of the proposed transaction; unexpected costs, charges or expenses resulting from the mergers; litigation relating to the merger; the outcome of  potential litigation or governmental investigations; the inability to retain key personnel; and any changes in general economic and/or industry specific conditions; and other risks, assumptions and uncertainties detailed from time to time in AEG's and ARP's reports filed with the SEC, including quarterly reports on Form 10-Q, current reports on Form 8-K and annual reports on Form 10-K. Forward-looking statements speak only as of the date hereof, and we assume no obligation to update such statements, except as may be required by applicable law.

SOURCE Atlas Energy, L.P.

Related Links

http://www.atlasenergy.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED