El Paso Investor Sues Over $38B Kinder Morgan Buyout

Law360, New York (October 18, 2011, 9:05 PM EDT) -- An El Paso Corp. shareholder launched a putative class action in Texas on Monday seeking to block Kinder Morgan Inc.'s $38 billion proposed buyout of El Paso, just one day after the companies announced the deal.

The suit claims the merger, which would create the largest natural gas pipeline network in the U.S. and make Kinder Morgan the fourth largest energy company in North America with 80,000 miles of pipeline with an enterprise value of about $94 billion, undervalues El Paso's stock and benefits Kinder Morgan...
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