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

Law360, Wilmington (February 9, 2012, 9:32 PM EST) -- 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...
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