Kinder Morgan to acquire El Paso in $38 billion deal

10/24/2011
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. The combined enterprise, including the associated master limited partnerships, Kinder Morgan Energy Partners LP (KMP) and EPB, will be: • The largest owner and operator of natural gas pipelines and storage assets in North America with roughly 67,000 miles of natur...
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