Ryan & Maniskas, LLP (
) is investigating potential claims against the board of directors of El Paso Corporation ("El Paso" or the "Company") (NYSE: EP) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell El Paso to Kinder Morgan, Inc. in a transaction valued at approximately $38 billion.
Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of El Paso. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
Under the terms of the agreement, Kinder Morgan, Inc. (“Kinder Morgan”) will acquire all outstanding shares of El Paso for approximately $26.87 per share. El Paso shareholders will receive $14.61 in cash per share plus 0.4187 shares of Kinder Morgan (valued at approximately $11.26 per El Paso share) and 0.640 Kinder Morgan warrants (valued at approximately $0.96 per El Paso share). The warrants have an exercise price of $40 and a five-year term. El Paso shareholders will be able to elect either (i) $25.91 in cash, (ii) 0.9635 shares of Kinder Morgan common stock, or (iii) $14.65 in cash plus 0.4187 shares of Kinder Morgan common stock for each El Paso Share held. Under all circumstances, El Paso shareholders will receive the 0.640 warrants per El Paso share held, subject to proration.
If you own shares of El Paso and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit:
. You may also email Mr. Maniskas at
. For more information about class action cases in general, please visit our website:
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.