Kinder Morgan has purchased El Paso in a 21-billion dollar deal which brings the two Houston pipeline giants together.
Kinder Morgan CEO Richard Kinder said in an interview with the "Houston Chronicle" he was the suitor in the deal.
He said, quote, "We spent about seven weeks working together negotiating and arrived at what we think is a good deal for everyone." Kinder Morgan says the combined company will possess 80-thousand miles of pipelines.
The business deal is expected to close during the second quarter of next year.
(Copyright 2011 by VERTEXNews/Newsroom Solutions)