Delaware Court Rules in Kinder Morgan’s Favor Regarding Merger Voting Requirements

HOUSTON--(BUSINESS WIRE)--The Delaware Chancery Court has denied a preliminary injunction sought by plaintiffs who wanted to block the Nov. 20, 2014, vote by Kinder Morgan Energy Partners, L.P. (NYSE: KMP) unitholders on the proposals related to the merger transactions under which Kinder Morgan, Inc. (NYSE: KMI) will acquire all of the publicly held shares/units of KMP, Kinder Morgan Management, LLC (NYSE: KMR) and El Paso Pipeline Partners, L.P. (NYSE: EPB). The Court also agreed with Kinder Morgan by holding: “[u]nder the plain language of the Partnership Agreement, the Merger only requires the affirmative vote of holders of a majority of the outstanding limited partner units, voting together as a single class.”