Gas pipeline company Kinder Morgan will acquire
its rival El Paso in a deal that will create the largest pipeline
operator in North America, the companies said Sunday.
Kinder Morgan will pay 21 billion dollars in cash and stock in the deal that will also create the fourth largest US energy firm. Including the assumption of debt, the total deal is worth 38 billion dollars.
The merger is to be completed in the second quarter of 2012. The board of El Paso already approved the merger, but it must still be cleared by stockholders and anti-trust regulators.
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