Gas transportation company Kinder Morgan Inc. will purchase Houston rival El Paso Corporation in a $38 billion deal, including debt, that will create the nation’s fourth largest energy company with 80,000 miles of gas pipeline.
EP shareholders will receive $26.87 per EP share in cash, stock and warrants, a 37 percent premium over the company’s Oct. 14 closing price. When the deal closes, expected in the second quarter of next year, KMI shareholders will own 68 percent of the combined company, and EP shareholders the remaining 32 percent.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
