CEO, investors seek Kinder Morgan acquisition
May 30, 2006 1:11 PM
Kinder Morgan Inc (KMI), Houston TX, has received a proposal from a group of investors led by Richard D Kinder, chairman and chief executive officer of the company, to acquire all of the KMI outstanding shares for $100 per share in cash.
KMI's board of directors has formed a special committee of independent directors to consider the proposal. The committee will retain independent financial advisors and legal counsel to assist it in its work. The proposal includes Kinder remaining as chairman and CEO. KMI is a North American energy transportation and distribution company with approximately 40,000 miles of natural gas and petroleum transportation pipelines, 1.1 million natural gas distribution customers, and 150 terminals.
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