Deals
Kinder Morgan to Buy El Paso for $38 Billion Including Debt
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Kinder Morgan Inc. agreed to buy El Paso Corp. for about $38 billion in cash, stock and assumed debt, creating the largest U.S. natural gas pipeline network.
The offer is valued at $26.87 per El Paso share, or 37 percent more than their Oct. 14 closing price, Houston-based Kinder Morgan said in a statement today. The offer is comprised of $14.65 in cash, 0.4187 shares of Kinder Morgan, and 0.64 Kinder Morgan warrants, the statement said.