Kinder Morgan $44 Billion Deal Goes Forward as Del. Court Denies Injunction

The Delaware Chancery Court Nov. 5 denied a request to block the $44 billion consolidation of Richard Kinder’s oil pipeline empire until he wins approval of two-thirds of investors in one of the partnerships he’s seeking to acquire (In re Kinder Morgan Inc. Unitholders Litig., Del. Ch., Cons. C.A. No. 10093-VCL).

Vice Chancellor J. Travis Laster held that the plaintiffs were not entitled to a preliminary injunction because they did not have a “reasonable probability of success on the merits of their voting rights claim.”

He opined, “[u]nder the plain language of the Partnership Agreement, the Merger only ...