Kinder Morgan And El Paso Announce Tentative Election Deadline Of May 23, 2012
Kinder Morgan, Inc. (NYSE: KMI) and El Paso Corporation (NYSE: EP) today announced that the tentative deadline for El Paso shareholders and equity award holders to elect the form of consideration they wish to receive in El Paso’s pending merger with Kinder Morgan is 5:00 p.m., New York City time, on May 23, 2012. The election deadline may be extended, in which case Kinder Morgan will issue a press release announcing the new election deadline. The closing of the merger is expected to occur by the end of May, subject to regulatory approval. El Paso shareholders who hold shares through a bank, broker, trust company or other nominee may have an earlier election deadline and should carefully review any instructions received from their bank, broker, trust company or other nominee.
As previously announced, El Paso shareholders can elect, for each El Paso share held, either cash, Kinder Morgan common stock, or a combination of cash and Kinder Morgan common stock. El Paso equity award holders can elect either cash or a combination of cash and Kinder Morgan common stock for all of their outstanding equity awards. All elections will be subject to proration and all El Paso shareholders and equity award holders will receive warrants to purchase Kinder Morgan common stock. The documents necessary for El Paso shareholders and equity award holders to make a merger consideration election were mailed starting April 2, 2012, to El Paso shareholders and equity award holders of record as of March 26, 2012.
To make an election, El Paso shareholders and equity award holders must deliver to Computershare Trust Company, N.A., the exchange agent for the transaction, prior to the election deadline, a properly completed election form and related letter of transmittal, together with their El Paso stock certificates or confirmation of book-entry transfer, or a properly completed notice of guaranteed delivery. El Paso shareholders should carefully read all the election materials provided to them before making their election. Shareholders with questions regarding the election procedures, who want up-to-date information on the election deadline or who wish to obtain copies of the election materials may contact MacKenzie Partners, Inc., the information agent for the transaction, at (800) 322-2885 (toll-free) or (212) 929-5500 (collect).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV