Kinder Morgan to acquire El Paso in $38 billion deal

Kinder Morgan Inc. reported it will acquire all outstanding shares of El Paso Corp. in a transaction creating the largest midstream and the fourth-largest energy company in North America, with an enterprise value of $94 billion and 80,000 miles of pipelines, the companies said. The total purchase price, including assumption of debt outstanding at El Paso and debt outstanding at El Paso Pipeline Partners LP (EPB), is $38 billion.

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