Market Overview

KMP to Acquire Copano for Approximately $5B

Related KMP
MLP Investors: This Downturn Is Nothing Compared To 2008
Tennessee Gas Pipeline Closes Successful Open Season For North-to-South Transportation Capacity To Mexico

Kinder Morgan Energy Partners, L.P. (NYSE: KMP) and Copano Energy,
L.L.C. (NASDAQ: CPNO) announced Tuesday a definitive agreement whereby KMP
will acquire all of Copano's outstanding units for a total purchase
price of approximately $5 billion, including the assumption of debt. The
transaction, which has been approved by the boards of directors of both
companies, will be a 100 percent unit for unit transaction with an
exchange ratio of .4563 KMP units per Copano unit. The consideration to
be received by Copano unitholders is valued at $40.91 per Copano common
unit based on KMP's closing price as of Jan. 29, 2013, representing a
23.5 percent premium to Copano's close on Jan. 29, 2013. The
transaction, which is expected to close in the third quarter of 2013, is

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A Global


Related Articles (CPNO + EPB)

View Comments and Join the Discussion!