Kinder Morgan to Buy El Paso for $20.7 Billion
BY MICHAEL J. DE LA MERCED
Rick Rainey/Kinder MorganKinder Morgan pipeline in Las Vegas.Kinder Morgan agreed on Sunday to buy the El Paso Corporation, a natural gas exploration and pipeline company, for about $20.7 billion in cash and stock, in one of the biggest energy deals in recent years.
Including the assumption of debt owed by El Paso and an affiliated business, El Paso Pipeline Partners, the takeover is valued at about $38 billion.
Through the deal, Kinder Morgan will become the nation’s biggest player in the business of transporting natural gas, with more than 80,000 miles of pipelines.
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