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- November 2011: Vol. 4, Number 10

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Kinder Morgan Acquires El Paso Corp.

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Natural gas pipeline company Kinder Morgan has agreed to acquire El Paso Corp. in a transaction that would create the United States’ largest natural gas pipeline company with an enterprise value of approximately $94 billion and 80,000 miles of pipelines.

The total purchase price, including the assumption of debt outstanding at El Paso Corp. and the debt outstanding at El Paso Pipeline Partners, is approximately $38 billion. Kinder Morgan shareholders are expected to own approximately 68 percent of the combined company upon financial closing, and El Paso shareholders are expected to own the remaining 32 percent. The transaction is expected to close in the second quarter of 2012, and it has been approved by each company’s board of directors.

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