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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.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • 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?

      DT

      • 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.

 
KMP
100.05+0.20(+0.20%)Nov 25 4:02 PMEST

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