Kinder Morgan to Buy El Paso

Here's something the crowds at Occupy Wall Street can rally around. Kinder Morgan is set to buy the El Paso Corporation for $20.7 billion in cash and stock. With the assumption of debt owned by El Paso, the takeover is valued at $38 billion. The deal will give Kinder Morgan 80,000 miles of pipelines, making it the country’s biggest transporter of natural gas. Richard D. Kinder, the chief executive of Kinder Morgan, said, “This once-in-a-lifetime transaction is a win-win opportunity for both companies.”