Judge Riled By Conflicts In $21B El Paso-Kinder Morgan Deal

Law360, Wilmington (February 09, 2012, 9:32 PM ET) -- A Delaware judge expressed deep concern Thursday that Kinder Morgan Inc.’s $21.1 billion buyout of El Paso Corp. was soiled by conflicts of interest on the part of El Paso’s CEO and its financial adviser Goldman Sachs & Co.

At a hearing in Delaware Chancery Court, El Paso shareholders fought to secure a preliminary injunction against the deal to allow the company to entertain other options and found a receptive ear in Chancellor Leo Strine Jr. when it came to the conflict allegations.

But the judge...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers