Kinder Morgan to Buy Copano Energy for $5 Billion

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Kinder Morgan Energy Partners, L.P. ( KMP ) has signed a definitive agreement to acquire Copano Energy, L.L.C. ( CPNO ) for a total purchase price of approximately $5 billion, including the assumption of debt. The transaction has been approved by the Boards of Directors of both companies.

The deal will be a 100% unit for unit transaction with an exchange ratio of 0.4563 KMP units per Copano unit. The consideration to be received by Copano unit holders is valued at $40.91 per Copano common unit.

KMP was off by 2 cents at $89.64 in the after-hours market.


CPNO closed yesterday at $33.13, with 52-week range of $24.24 - $38.03.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: CPNO , KMP

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