Friday, April 20, 2012
Kinder Morgan and El Paso announce tentative election deadline of May 23
HOUSTON, Texas - Kinder Morgan, Inc. (NYSE: KMI) and El Paso Corp. (NYSE: EP) on April 16 announced that the tentative deadline for El Paso shareholders and equity award holders to elect the form of consideration they wish to receive in El Paso's pending merger with Kinder Morgan is May 23.
The election deadline may be extended, in which case Kinder Morgan will issue a press release announcing the new election deadline. The closing of the merger is expected to occur by the end of May, subject to regulatory approval. El Paso shareholders who hold shares through a bank, broker, trust company or other nominee may have an earlier election deadline and should carefully review any instructions received from their bank, broker, trust company or other nominee.
As previously announced, El Paso shareholders can elect, for each El Paso share held, either cash, Kinder Morgan common stock, or a combination of cash and Kinder Morgan common stock.
El Paso equity award holders can elect either cash or a combination of cash and Kinder Morgan common stock for all of their outstanding equity awards. All elections will be subject to proration and all El Paso shareholders and equity award holders will receive warrants to purchase Kinder Morgan common stock.