Kinder Morgan Energy Partners closes Copano acquisition
Houston, May 1 - Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today closed its previously announced acquisition of Houston-based Copano Energy, L.L.C. (NASDAQ: CPNO). KMP has acquired all of Copano’s outstanding units for a total purchase price of approximately $5 billion, including the assumption of debt. The transaction, which was approved by the Copano unitholders on April 30 and previously by the boards of directors of both companies, is a 100 percent unit-for-unit transaction with an exchange ratio of .4563 KMP units per Copano unit.
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