Kinder Morgan To Replace El Paso In S&P 500 Next Week
17 Maio 2012 - 7:50PM
Dow Jones News
S&P Indices said Kinder Morgan Inc. (KMI) will replace its
acquisition target, El Paso Corp. (EP), in the S&P 500 index
after next Thursday's market close.
Kinder Morgan's shares jumped 3.8% after hours to $34.24. The
stock as of Thursday's close was up 2.6% so far this year.
Kinder Morgan, a pipeline transportation and storage company,
last year agreed to acquire El Paso, which operates a network of
interstate natural-gas pipelines in North America, for $21 billion.
The deal is expected to close next Thursday, May 24.
Kinder Morgan will also be added to the S&P 500 GICS Oil
& Gas Storage & Transportation Sub-Industry index.
-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com
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