Kinder Morgan to buy Terasen in $5.6 billion deal

08/08/2005
Kinder Morgan Inc. (KMI), Houston, will acquire Terasen Inc., Vancouver, BC, in a $5.6 billion deal creating a combined system of 40,000 miles of natural gas and oil pipelines in Canada and the US with potential for expansion based on production from Alberta’s oil sands.Directors of both companies have approved the transaction, which if approved by regulators and Terasen shareholders will close by yearend. The estimated value of the offer, which gives Terasen shareholders the option to exchange their shares for cash, KMI common stock, or a combination, includes the assumption of Terasen debt.In addition to the pipeline systems, the combined company will have more than 1.1 million ga...
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