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Kinder Morgan Energy Partners, L.P. Message Board

  • taztlz taztlz Feb 16, 1998 2:17 PM Flag

    Buyout Vote

    Now that everyone has had a chance to read the background regarding the buyout, I was curious is their anyone who is planning to vote against this deal. I personally thought that it looked like a good deal for ENP and a mediocre to poor deal for Sante Fe Pipeline. I thought the justification for the stock price was strongly biased toward ENP. I had the same conclusion that Tampa Pipeline company had. What do others think? Am I missing something or are we just getting a good deal.

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    • If we are getting a good deal, why is the share price so sucky for the last couple of months. I know earnings will reflect the buyout, but that should be figured into the share price by now. I think it is way past time for enp to start moving to the up side at least to the mid 40's. When do you think we will see some upside?


      • 1 Reply to stonewall_63
      • I agree with you that it should start showing some upside. The real question, I think, is how long it will take ENP to integrate the assets into the system. As a stand alone asset, Santa Fe is profitable but ENP is talking two years to fully integrate the systems. Long term, I think this looks like a real winner but if you're in it for the short I think you may be disappointed in the growth. There is just too much difference in the two systems to generate much immediately.

        Santa Fe is still a system that has very little automation in terms of the control process. ENP is totally automated with everything being controlled from Houston. That in itself will require a pretty large amount of money to bring Santa Fe to modern standards.

        I don't know if I've offered anything or not with all this, but I do believe that all of these things make a difference in the bottom line.

        As I've said before, just have faith. Good luck with your investments.

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