Tuesday, August 29, 2006

Kinder Morgan To Go Private

The New York Times:
Kinder Morgan Inc., one of the largest pipeline operators in the country, said yesterday that it had agreed to a sweetened buyout offer of $15 billion from a group of investors led by its chairman and co-founder, Richard D. Kinder.

The buyers, who plan to take the company private, agreed to increase their cash offer to $107.50 a share, from an offer of $100 a share made in May. In addition, they will assume $7 billion of debt, Kinder Morgan, of Houston, said in a statement.