Kinder Morgan Inc. (KMI) said the special committee of its board of directors formed to consider a management-led buyout proposal has retained Morgan Stanley and The Blackstone Group as its financial advisers and Skadden, Arps, Slate, Meagher & Flom LLP as its legal advisor.
CEO Richard Kinder has proposed a $100/share buyout of KMI (see Daily GPI, May 31), owner of the general partner in Kinder Morgan Energy Partners (KMP), which is developing the Rockies Express pipeline.
Several law firms have initiated class action suits that allege the $100/share buyout offer is too low (see Daily GPI, June 8). Others have speculated that KMI will attract a competing offer. The board’s special committee also has been authorized to evaluate alternative proposals that may be received from other parties. The company said there is no guarantee a transaction will be completed with the Kinder-led party or anyone else.
©Copyright 2006Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.
© 2020 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |