Takeover

Published August 29, 2006

HOUSTON, Aug 28: US pipelines operator Kinder Morgan Inc. (KMI) said on Monday it was being taken over through a management buyout worth $22bn. The deal, which includes $7 billion in debt, will see chief executive Richard Kinder, co-founder Bill Morgan, other board members and investment partners pay $107.50 for each share held by KMI stockholders.—AFP