Kinder Morgan Inc. (KMI) announced that the deadline for Kinder Morgan Energy Partners LP (KMP) and El Paso Pipeline Partners LP (EPB) unitholders to elect the form of consideration they wish to receive in each of KMP’s and EPB’s pending mergers with KMI is 5:00 p.m. ET on Nov. 24, 2014. The election deadline may be extended, in which case KMI will issue a press release announcing the new election deadline. The closing of each merger is expected to occur on Nov. 26, 2014. Accordingly, it is expected that Nov. 26 will be the last trading day for KMP and EPB units as well as Kinder Morgan Management LLC (KMR) shares. KMP and EPB unitholders who hold common units through a broker, dealer, commercial bank, trust company or other fiduciary may have an earlier election deadline and should carefully review any instructions received from their broker, dealer, commercial bank, trust company or other fiduciary.
The election deadline does not impact the deadline to vote KMP and EPB units and KMI and KMR shares in connection with the transactions. Holders of record of such units and shares as of the close of business on Oct. 20, 2014, may vote at the applicable Nov. 20, 2014, special meeting for the transactions, but are encouraged to vote prior to Nov. 20, 2014.
As previously announced, KMP and EPB unitholders can elect, for each KMP or EPB common unit held, either cash, KMI common stock, or a combination of cash and KMI common stock. The all-cash and all-stock elections will be subject to proration. KMP and EPB unitholders should carefully read all the election materials provided to them before making a decision.
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