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Copano Energy LLC Message Board

  • can_not_wait_forever can_not_wait_forever Jan 29, 2013 11:35 PM Flag

    Jan. 29, 2013, representing a 23.5 percent premium to Copano’s close on Jan. 29, 2013.

    Kinder Morgan Energy Partners, L.P. (KMP) and Copano Energy, L.L.C. (CPNO) today announced a definitive agreement whereby KMP will acquire all of Copano’s outstanding units for a total purchase price of approximately $5 billion, including the assumption of debt. The transaction, which has been approved by the boards of directors of both companies, will be a 100 percent unit for unit transaction with an exchange ratio of .4563 KMP units per Copano unit. The consideration to be received by Copano unitholders is valued at $40.91 per Copano common unit based on KMP’s closing price as of Jan. 29, 2013, representing a 23.5 percent premium to Copano’s close on Jan. 29, 2013.