Deals
Kinder Morgan Buys Copano for $3.2 Billion in Shale Deal
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Kinder Morgan Energy Partners LP, the biggest U.S. pipeline company, agreed to acquire Copano Energy LLC for about $3.2 billion in stock to capitalize on rising natural gas output from shale basins in Texas, Oklahoma and Wyoming.
Kinder Morgan Energy will pay the equivalent of $40.91 a share, about 24 percent more than Copano’s closing price of $33.13 on Jan. 29, the Houston-based company said today in a statement. Including preferred shares and debt, the acquisition is worth about $5 billion, according to the statement.