El Paso Corporation Stockholders Overwhelmingly Approve Merger With Kinder Morgan
March 09 2012 - 11:11AM
Marketwired
El Paso Corporation (NYSE: EP) today announced that its
shareholders approved the merger with Kinder Morgan, Inc. (NYSE:
KMI) during a special meeting of stockholders. Based on preliminary
results, approximately 79 percent of El Paso's outstanding shares
of common stock as of the record date were voted at the special
meeting. Of the shares that were voted, more than 95 percent voted
in favor of the merger.
"We are pleased that our shareholders overwhelmingly approved
the pending merger with Kinder Morgan and we appreciate their
support," said Doug Foshee, El Paso chairman, president and chief
executive officer. "We view this as a tremendous outcome for our
shareholders and customers, and we look forward to closing the
transaction, which is still expected to occur in the second
quarter."
El Paso will file a Form 8-K with the Securities and Exchange
Commission with the final results as soon as they are available.
Once filed, it will be available in the Investor section of the El
Paso website at www.elpaso.com.
El Paso Corporation provides natural gas and related energy
products in a safe, efficient, and dependable manner. The company
owns North America's largest interstate natural gas pipeline
system, one of North America's largest independent exploration
& production companies and an emerging midstream business. El
Paso owns a 42 percent limited partner interest, and the 2 percent
general partner interest in El Paso Pipeline Partners, L.P. On
October 16, 2011, El Paso Corporation announced that it has entered
into a definitive agreement whereby Kinder Morgan, Inc. will
acquire all of the outstanding shares of El Paso Corporation. For
more information, visit www.elpaso.com.
Important Additional Information Filed With The
SEC
Kinder Morgan, Inc. ("KMI") has filed with the SEC a
Registration Statement on Form S-4 in connection with the proposed
transactions contemplated by the Merger Agreement, including a
definitive Information Statement/Prospectus of KMI and a definitive
Proxy Statement of El Paso Corporation ("EP"). The Registration
Statement was declared effective by the SEC on January 30, 2012.
Post-effective amendments to the Registration Statement were filed
on February 27, 2012 and on March 1, 2012. KMI and EP mailed the
definitive Information Statement/Prospectus of KMI and definitive
Proxy Statement of EP on or about January 31, 2012. INVESTORS AND
SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND
THE DEFINITIVE INFORMATION STATEMENT/PROXY STATEMENT/PROSPECTUS AND
ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED BY KMI OR EP,
BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION.
Investors and security holders are able to obtain free copies of
the Registration Statement and the definitive Information
Statement/Proxy Statement/Prospectus and other documents filed with
the SEC by KMI and EP through the web site maintained by the SEC at
www.sec.gov or by phone, e-mail or written request by contacting
the investor relations department of KMI or EP at the
following:
Kinder Morgan, Inc. Address: 500 Dallas Street, Suite 1000
Houston, Texas 77002 Attention: Investor Relations Phone: (713)
369-9490 E-mail: kmp_ir@kindermorgan.com
El Paso Corporation Address: 1001 Louisiana Street Houston,
Texas 77002 Attention: Investor Relations Phone: (713) 420-5855
E-mail: investorrelations@elpaso.com
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
Safe Harbor For Forward-Looking
Statements
Statements in this document regarding the proposed transaction
between KMI and EP, the expected timetable for completing the
proposed transactions, future financial and operating results,
benefits and synergies of the proposed transaction, future
opportunities for the combined company, the expected timetable for
completing the sale of EP's exploration and production assets, the
possible drop-down of assets and any other statements about KMI or
EP managements' future expectations, beliefs, goals, plans or
prospects constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Any
statements that are not statements of historical fact (including
statements containing the words "believes," "plans," "anticipates,"
"expects," "estimates" and similar expressions) should also be
considered to be forward-looking statements. There are a number of
important factors that could cause actual results or events to
differ materially from those indicated by such forward-looking
statements, including: the ability to consummate the EP Energy Sale
and the proposed transactions contemplated by the Merger Agreement;
the ability to obtain the requisite regulatory approvals and the
satisfaction of other conditions to consummation of the
transaction; the possibility that financing might not be available
on the terms agreed to; the ability to consummate contemplated
asset sales; the ability of KMI to successfully integrate EP's
operations and employees; the ability to realize anticipated
synergies and cost savings; the potential impact of announcement of
the transaction or consummation of the transaction on
relationships, including with employees, suppliers, customers and
competitors; the ability to achieve revenue growth; national,
international, regional and local economic, competitive and
regulatory conditions and developments; technological developments;
capital and credit markets conditions; inflation rates; interest
rates; the political and economic stability of oil producing
nations; energy markets, including changes in the price of certain
commodities; weather conditions; environmental conditions; business
and regulatory or legal decisions; the pace of deregulation of
retail natural gas and electricity and certain agricultural
products; the timing and success of business development efforts;
terrorism; and the other factors described in KMI's and EP's Annual
Reports on Form 10-K for the year ended December 31, 2011 and their
most recent Exchange Act reports filed with the SEC. Except as
required by law, KMI and EP disclaim any intention or obligation to
update any forward-looking statements as a result of developments
occurring after the date of this document.
Contacts: Media Relations Bruce Connery (713)
420-5855 Richard Wheatley (713) 420-6828 Investor Relations Bruce
Connery (713) 420-5855 Bill Baerg (713) 420-2906
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