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U.S. markets recover from steep losses
HOUSTON, May 30 (UPI) -- Kinder Morgan Inc.'s leaders want to take the big Houston pipeline company private in a $13.5 billion deal.
Offering an 18-percent premium to the company's Friday closing price, the proposed management takeover, which represents a total transaction value of about $22 billion would be the largest such buyout, The Wall Street Journal said Tuesday. If successful in the deal, KMI would add $14.5 billion in debt.
Richard Kinder, KMI founder and chief executive, create KMI about 10 years ago with roughly $40 million in assets he bought from Enron Corp., which he left in late 1996 after Kenneth Lay passed him over in his search for a chief executive.
KMI owns an interest in or operates 43,000 miles of pipelines that transport primarily natural gas, crude oil, petroleum products and carbon dioxide and more than 150 terminals that store, transfer and handle products like gasoline and coal.
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WASHINGTON, May 23 (UPI) --
The planned Keystone XL oil pipeline would move oil away from refineries that produce gasoline, increasing prices, the National Resource Defense Council says.
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MELBOURNE, Fla., May 23 (UPI) --
Northrop Grumman says its Military Airworthiness Certification is closer for its re-engined EC-8 Joint Surveillance Target Attack Radar System aircraft.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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