Major Pipeline Deal Made Official
By: Big 2 News Staff
Updated: October 18, 2011
(Houston, TX) -- Kinder Morgan and El Paso Corporation are coming together in a major business deal.
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)
RNS-10-17-11 0221CDT
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)
RNS-10-17-11 0221CDT
