Ghost of Enron Behind Kinder's EI Paso Deal

摘要

US pipeline giant Kinder Morgan's $38 billion cash, stock and debt acquisition of smaller gas pipeline-focused rival El Paso creates a new type of supermajor — a midstream and infrastructure giant with more than 80,000 miles of pipelines and related facilities, and with operations in all but a few of the US lower 48 states. The deal is the biggest energy sector merger or acquisition since Exxon Mobil's takeover of US independent XTO Energy at the end of 2009, and will create the US' fourth-biggest energy company after Exxon, Chevron and ConocoPhillips (PIW Dec.21'09).