Kinder Morgan Strikes $5B Deal For Copano Energy

Law360, New York (January 30, 2013, 3:22 PM EST) -- Kinder Morgan Energy Partners LP will acquire Copano Energy LLC, a midstream gas company backed by TPG Capital, in a stock-for-stock deal valued at $5 billion, including the assumption of debt, the companies said late Tuesday.

Kinder Morgan, fresh off its monster acquisition of El Paso Corp.'s pipeline unit last year, will exchange 0.4563 of its own units for each one of Copano's, which works out to a valuation of $40.91 per Copano share — a 25 percent premium to Copano's closing price on Tuesday — and an equity swap of about $3.32 billion.

The deal, which is expected to close...

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