Kinder Morgan to acquire Copano for $5 billion

摘要

Kinder Morgan Energy Partners LP (NYSE: KMP) and Copano Energy LLC (Nasdaq: CPNO) have agreed for KMP to acquire all of Copano's outstanding units for $5 billion. The deal will be a 100% unit-for-unit transaction with an exchange ratio of .4563 KMP units per Copano unit. The consideration to be received by Copano unitholders is valued at $40.91 per Copano common unit based on KMP's closing price as of Jan. 29, 2013, representing a 23.5% premium to Copano's close on that date. The transaction is expected to close in third-quarter 2013.