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.
I don't know what you are smoking but you have to buy KMI KMR and KMP all at once. Add the debt of all 3. It would be like Exxon buying Chevron-Hertz buying Avis- No person overseeing monopolies in USA would stand for it Stick to fantasy channel