Calif. Pension Fund To Oppose El Paso-Kinder Morgan Deal

Law360, New York (March 7, 2012, 7:09 PM EST) -- The U.S.' largest teacher pension fund will vote its shares in energy giant El Paso Corp. against the pipeline company's proposed $21.1 billion merger with Kinder Morgan Inc., the fund declared Wednesday.

The California State Teachers Retirement System, a pension fund and private equity investor that holds 2.8 million shares in El Paso, accused the companies of low-balling El Paso shareholders and expressed concerns over lack of transparency and apparent conflicts of interest that have plagued the deal since it was announced last summer.

“We believe...
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