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People & Business :: Companies
Kinder Morgan to Acquire El Paso, Creating Pipeline Giant
10:32 AM MDT | October 17, 2011 | Vincent Valk
In a deal that will create the largest natural gas pipeline operator in the U.S., Kinder Morgan (KMI; Houston) has agreed to buy competitor El Paso Corporation (Houston) for $38 billion, including El Paso debt. The total cash and equity consideration is $21.1 billion. The combined entity will control 67,000 miles of natural gas pipelines in the U.S., including access to major shale plays such as Eagle Ford, Marcellus, Utica, Haynesville, Fayetteville and Barnett. It will have capacity to transport 1.9 billion barrels per day of petroleum products, including...
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