Kinder Morgan Buys El Paso in $38B Deal

摘要

Houston-based pipeline company KinderMorgan is acquiring El Paso, the largest US nat-ural gas pipeline operator, in a $38 billion cash,stock and debt transaction that will makeKinder Morgan the fourth largest US-based en-ergy company of any kind.Unlike the companies that rank above it —Exxon Mobil, Chevron and ConocoPhillips —the new Kinder Morgan will have almost no up-stream assets after the planned sale of El Paso’sexploration and production company is com-pleted. Kinder Morgan will be an almost pureinfrastructure business and the largest mid-stream company in North America.