KN Energy makes deal to buy Kinder Morgan

KN Energy Inc., an integrated natural gas company based in Lakewood, Colo., has signed a definitive merger agreement with pipeline operator Kinder Morgan Inc., Houston.The deal, valued at about $500 million, will create a firm with a total enterprise value of about $8.5 billion. This value includes the $2.5 billion value of Kinder Morgan Energy Partners LP, in which Kinder Morgan Inc. is the sole stockholder of the general partner, Kinder Morgan GP Inc.Under the terms of the deal, KN Energy will issue about 41.5 million shares of stock in return for all the outstanding shares of Kinder Morgan Inc. As a result of the transaction, Kinder Morgan Inc. has canceled a planned initial public off...

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