Kinder Morgan Gets FTC Approval For El Paso Acquisition

June 2012 Vol. 239 No. 6

Kinder Morgan, Inc. has received approval for its pending acquisition of El Paso Corp. from the Federal Trade Commission, subject to divestiture of certain Kinder Morgan Energy Partners, L.P. assets. The FTC terminated the Hart-Scott-Rodino Act waiting period, clearing the way for the companies to close the transaction as anticipated in late May.

In March, Kinder Morgan reached agreement with the FTC to sell Kinder Morgan Interstate Gas Transmission, Trailblazer Pipeline Co., its Casper-Douglas natural gas processing and West Frenchie Draw treating facilities in Wyoming, and its 50% interest in the Rockies Express Pipeline. The FTC order allows the company six months to sell the assets.

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