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Enterprise Products Partners L.P. Message Board

  • bhenning32 bhenning32 Jul 14, 2011 12:44 PM Flag

    EPD vs KMP

    I think EPD should buy KMP and put to rest who`s the best the biggest the smartest whos management is best and so on.Be Bold, be Ruthless, Be agressive, But be kind whilst doing so.

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    • KMP's founder, Richard Kinder is along with EPD's late founder the two grand old men of this industry.

      KMP's limitations are a matter of having a huge footprint from their formation until now in areas that are less hot. EPD on the other hand is positioned well for the future. KMP struggles to cover its distribution while EPD can easily raise theirs by 5%/year.

      I would not want to own KMP and besides you have the problem with KMP's GP, KMR to deal with too.

      From an acquisition ebitda multiple KMP would be too expensive and highly dilutive IMO.

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