El Paso Shareholders Back Disputed $21B Kinder Morgan Deal

Law360, New York (March 9, 2012, 2:37 PM EST) -- El Paso Corp. shareholders on Friday voted overwhelmingly to approve the company’s $21.1 billion sale to Kinder Morgan Inc. despite a Delaware judge’s reproach of possible conflicts of interest by El Paso adviser Goldman Sachs & Co.

The vote had been scheduled for Tuesday but was pushed back to give shareholders time to digest a Feb. 29 decision in Delaware Chancery Court by Chancellor Leo Strine Jr., who declined to block the deal but said a class of shareholders could probably prove there were breaches of...
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