Not good news

[HEyHEY]

In a blockbuster deal late Monday afternoon, Kinder Morgan and Terasen announced a definitive agreement that will see the Houston company pay $35.91 Cdn in cash or stock for each Terasen share in a deal that will create a leading North American energy transportation and distribution company.
The total purchase price, including assumpion of debt, is about $5.6 billion US, or $6.9 billion Cdn, the companies said.
The transaction has been unanimously approved by each company's board of directors, and by a special committee of independent directors created by the Terasen board to oversee this process. The sale is expected to close by the end of the year, subject to Terasen shareholder approval and other regulatory approvals.
The combined company will have about 64,000 kilometres of natural gas and petroleum transportation pipelines, more than 1.1 million natural gas distribution customers, about 150 terminals, 9,000 employees and a value of more than $19 billion US.
Including Kinder Morgan affiliate Kinder Morgan Energy Partners L.P. (NYSE:KMP), of which KMI is the general partner, the value of the total combined companies will be about $35 billion US.
"This transaction will combine two strong entities to create a premier energy company in North America with a bright future," said Kinder Morgan chairman and CEO Richard Kinder.
"It is a win-win transaction for both entities that is expected to produce immediate shareholder value through strong earnings and cash flow accretion, as well as provide exciting future growth opportunities. For Kinder Morgan, the merger will dramatically broaden our footprint into Canada.''
Terasen president and CEO John Reid said the planned combination is a great opportunity for Terasen, (TSX:TER) formerly B.C. Gas, and its shareholders.
"This transaction creates significant immediate and long-term value for our shareholders and gives us the scale, resources and access to capital we need to accelerate our business strategy and lead the development of world-class infrastructure across Western Canada.''

[AlwaysQuestion]

1. No need to invade

Just buy us up. But wait.......Terresen shareholders from Outtaluckland have to vote their approval before the deal goes through. Gee, I wonder which way it'll go. :grouphug:

[faithnotgreed]

2. i dont want our footprint in canada

thats why i want to move there so i dont have to see your footprints