Kinder Morgan's $38B El Paso Deal Forms Energy Giant

Law360, New York (October 17, 2011, 2:34 PM EDT) -- Houston-based energy transportation company Kinder Morgan Inc. said Sunday that it will buy competitor El Paso Corp. in a $38 billion deal to create the largest natural gas pipeline network in the U.S.

The transaction would set up Kinder Morgan as the fourth largest energy company in North America with 80,000 miles of pipeline and an enterprise value of about $94 billion.

Kinder Morgan Chairman and CEO Richard D. Kinder said that El Paso's natural gas pipelines were complementary since they serve different supply sources and...
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