Kinder Morgan merger creates energy giant

Kinder Morgan Inc. announced a $38 billion acquisition of El Paso Corp. in a deal that would create the largest midstream business and fourth largest energy company in North America, with an enterprise value of about $94 billion and 80,000 miles of pipelines. The transaction is expected to close in the second quarter of 2012. According to Kinder Morgan, the combined enterprise, including the associated master limited partnerships Kinder Morgan Energy Partners L.P. and El Paso Pipeline Partners L.P., will represent the largest natural gas pipeline network in the United States, the largest independent transporter of petroleum products, the largest transporter of CO2 and the largest independent terminal owner/operator.