March 12, 2012 [New York Times] - Casting aside the controversy, shareholders of the El Paso Corporation have approved Kinder Morgan’s bid, originally valued at $21.1 billion.
During a special meeting on Friday, a group of shareholders representing about 79 percent of El Paso outstanding shares, voted overwhelmingly — in excess of 95 percent — for the deal. The transaction is expected to close in the second quarter.
“We are pleased that our shareholders overwhelmingly approved the pending merger with Kinder Morgan and we appreciate their support,” Douglas L. Foshee, El Paso’s chief and chairman, said in a statement. “We view this as a tremendous outcome for our shareholders and customers.”
