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.
Most Popular Stories
- Michael Jackson, Freddie Mercury on Previously Unreleased Queen Cut
- 10 Things to Know About Alibaba
- Five Steps to Protect Yourself from Data Breaches
- Concur Sold to SAP for $8.3B
- Federal Probe Finds Christie Did Not Order 'Bridgegate'
- Chrysler Recalls Nearly 189,000 SUVs
- Intruder Gets into White House
- HCL America Adding 1,200 IT Jobs
- Medical Mfg. Jobs Coming to Dayton
- Longtime Unemployed to Get Help in Las Vegas