USA: El Paso Shareholders Approve Kinder Morgan Deal
El Paso Corporation of USA said that its shareholders approved the merger with Kinder Morgan during a special meeting of stockholders.
Based on preliminary results, approximately 79 percent of El Paso’s outstanding shares of common stock as of the record date were voted at the special meeting, the company said in a statement.
Of the shares that were voted, more than 95 percent voted in favor of the merger.
“We are pleased that our shareholders overwhelmingly approved the pending merger with Kinder Morgan and we appreciate their support,” said Doug Foshee, El Paso chairman, president and chief executive officer.
“We view this as a tremendous outcome for our shareholders and customers, and we look forward to closing the transaction, which is still expected to occur in the second quarter.”
LNG World News Staff, March 10, 2012