Kinder Morgan Inc. (NYSE: KMI) will consolidate all of its companies by acquiring Kinder Morgan Energy Partners LP (NYSE: KMP), Kinder Morgan Management LLC (NYSE: KMR) and El Paso Pipeline Partners LP (NYSE: EPB) in a deal valued at approximately $70 billion. Shares of Kinder Morgan soared $3.88 to $40.00 while Kinder Morgan Energy Partners stock leaped $14.58 to $94.92. Kinder Morgan Management stock jumped $19.58 to $96.60. Shares of El Paso Pipeline surged $7.54 to $41.14.
Kinder Morgan to consolidate businesses
August 11, 2014 at 06:14 AM EDT