Kinder Morgan Reorganization
Energy giant Kinder Morgan Inc. is buying all the outstanding stock of Kinder Morgan Energy Partners LP, Kinder Morgan Management LLC and El Paso Pipeline Partners LP for $44 billion in stock and cash, consolidating the four entities into one publicly traded company. In doing so, the combined company is folding the tax-favored master limited partnerships Kinder Morgan helped pioneer in the 1990s into a conventional corporate structure. It also will assume $27 billion in debt, putting the total transaction value at about $71 billion.
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