01 Dec 2025

Latham & Watkins Advises Targa Resources on US$1.25 Billion Acquisition of Stakeholder Midstream

"Latham & Watkins advised Targa Resources Corp. on its definitive agreement to acquire Stakeholder Midstream, LLC for US$1.25 billion. The transaction covers Stakeholder's natural gas gathering, treating and processing services and crude gathering and storage assets in the Permian Basin."

Latham & Watkins LLP represented Targa Resources Corp. (NYSE: TRGP) in the transaction to acquire Stakeholder Midstream, LLC for US$1.25 billion. Targa Resources announced a definitive agreement under which it will acquire Stakeholder Midstream, LLC for US$1.25 billion. Stakeholder provides natural gas gathering, treating, and processing services, as well as crude gathering and storage services in the Permian Basin. Latham & Watkins LLP represented Targa Resources Corp. with a team composed by: corporate deal team led by Houston partners Ryan Maierson and James Garrett, with associates John Daywalt, Sam Spiers, Braydon Jones, Harrison Little, Dylan Brown, and Liem-Lucas Nguyen; FERC/regulatory matters by Washington, D.C. partner Patrick Nevins; environment, land and resources matters by Los Angeles/Houston partner Joshua Marnitz, with associate Austin Pierce; tax matters by Houston partner Jim Cole; antitrust matters by Washington, D.C. partners Jason Cruise and Peter Todaro, with associates Mary Casale, Seamus Ronan, and Jean Hyun; benefits matters by Washington, D.C. partner David Della Rocca, with associates Hayden Rutledge, Mary Daniel Morgan, and Heather Jäger; labor matters by New York counsel Sandra Benjamin, with assistance from Jocelyn Wexler and Lauren Stark; real estate matters by San Diego counsel Aaron Friberg; data privacy and cybersecurity matters by Houston partner Robert Brown, with associate Zac Alpert; intellectual property matters by associates Andrew Abokhair and Saúl Aguirre-Villarreal; insurance matters by Los Angeles partner Harrison White, with associate Enrique Covarrubias; diligence matters by associates Catherine Yao and Monica Calce, Houston counsel James Robertson, New York partner Eric Leon, and associate Sarah Burack; and assistance on finance matters by Chicago counsel Benjamin Gelfand, with associate Eugenio Cárdenas.
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