Deals
Kinder Morgan’s $110 Million El Paso Settlement Approved
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Kinder Morgan Inc., the biggest U.S. pipeline provider after buying El Paso Corp., won a Delaware court’s approval of a $110 million settlement of investor lawsuits over the 2011 acquisition.
Chancery Court Judge Leo Strine in Wilmington said yesterday in court that the accord provided a “very large monetary settlement” of El Paso shareholders’ claims they were shortchanged in the $21.1 billion buyout by Kinder Morgan and that El Paso financial adviser Goldman Sachs Group Inc. had conflicting interests in the deal.