Shareholders easily approve Kinder Morgan merger megadeal

The $70 billion megadeal to combine the Kinder Morgan family of companies received more than 95 percent approval from shareholders and unitholders at special board meetings on Nov. 20.Founder, Chairman and CEO Rich Kinder is nearly done in his push for Kinder Morgan Inc. NYSE: KMI to acquire Kinder Morgan Energy Partners LP NYSE: KMP, Kinder Morgan Management LLC NYSE: KMR and El Paso Pipeline Partners LP NYSE: EPB. Not including debt, the deal is valued at about $44 billion.The deals are expected to close on Nov. 26, just before Thanksgiving. The deadline for KMP and EPB unitholders to elect the form of consideration they wish to receive in the pending mergers is 4 p.m. Nov. 24. As such, Nov. 26 is expected to be the last trading day for KMP and EPB units, as well as KMR shares.Although Kinder Morgan helped jumpstart the trend of rapidly growing master limited partnerships, Kinder Morgan will soon no longer have any MLPs.

via Shareholders easily approve Kinder Morgan merger megadeal – Houston Business Journal.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s