KMP Completes Acquisition of Copano Energy

HOUSTON--(BUSINESS WIRE)--Kinder Morgan Energy Partners, L.P. (NYSE: KMP) today closed its previously announced acquisition of Houston-based Copano Energy, L.L.C. (NASDAQ: CPNO). KMP has acquired all of Copano’s outstanding units for a total purchase price of approximately $5 billion, including the assumption of debt. The transaction, which was approved by the Copano unitholders on April 30 (with more than 99 percent of the units that voted voting in favor of the transaction) and previously by the boards of directors of both companies, is a 100 percent unit-for-unit transaction with an exchange ratio of .4563 KMP units per Copano unit.