Kinder Morgan (KMI) will purchase El Paso Corp. (EP) in a $38B deal of cash, stock, and...

|About: Kinder Morgan, Inc. (KMI)|By:, SA News Editor

Kinder Morgan (KMI) will purchase El Paso Corp. (EP) in a $38B deal of cash, stock, and assumption of debt. The price - based on KMI's Friday close - works out to $26.87/share, a 37% premium over El Paso's last trade. KMI CEO Rich Kinder expects the transaction to be immediately accretive to the company's earnings. (PR)