Kinder Morgan Energy Partners LP said it plans to purchase Copano Energy LLC for an equity value of about $3.22 billion, a deal that will broaden the company's oil and gas pipeline assets in Texas and Oklahoma.Based on an exchange ratio of .4563 Kinder Morgan units, Copano shareholders will receive $40.91 per share, which is a 23.5 percent premium to Copano's close on Tuesday.Shares of Houston-based Kinder Morgan Energy closed at $89.66 on Tuesday on the New York Stock Exchange.Including assumption of debt, the total deal value is about $5 billion.
Copano Energy, L.L.C. (Copano) is an energy company engaged in the business of providing midstream services to natural gas producers, including gathering, transportation and processing of natural gas, fractionation and transportation of natural gas liquids (NGLs) and other related services. Shares of CPNO traded higher by 0.84% or $0.275/share to $33.13. In the past year, the shares have traded as low as $24.24 and as high as $38.03. On average, 313916 shares of CPNO exchange hands on a given day and today's volume is recorded at 434950.
Kinder Morgan, Inc. (KMI) owns and manages a diversified portfolio of energy transportation and storage assets. Shares of KMI traded higher by 0.38% or $0.14/share to $37.30. In the past year, the shares have traded as low as $30.51 and as high as $40.25. On average, 5169520 shares of KMI exchange hands on a given day and today's volume is recorded at 13342723.
Kinder Morgan Energy Partners, L.P. (KMP) is a pipeline transportation and energy storage company in North America. Shares of KMP traded higher by 1.45% or $1.28/share to $89.66. In the past year, the shares have traded as low as $74.15 and as high as $90.60. On average, 979123 shares of KMP exchange hands on a given day and today's volume is recorded at 937800.
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