KM receives Hart-Scott-Rodino clearance

Kinder Morgan, Inc. has announced the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR) for its proposed acquisition of Kinder Morgan Energy Partners, L.P. The proposed acquisition was announced on 10^th August, 2014, along with the proposed acquisitions of Kinder Morgan Management, LLC and El Paso Pipeline Partners, L.P., for which no HSR filings were required.

The approximately US$ 70 billion transaction is expected to close by the end of 2014 following unitholder and shareholder votes, and standard regulatory notifications and approvals.

Kinder Morgan is the largest midstream and the third largest energy company in North America with a combined enterprise value of approximately US$ 125 billion. It owns an interest in or operates approximately 80 000 miles of pipelines and 180 terminals. Its pipelines transport natural gas, gasoline, crude oil, CO₂ and other products, and its terminals store petroleum products and chemicals and handle such products as ethanol, coal, petroleum coke and steel.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/26082014/km-receives-hart-scott-rodino-clearance/