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December 16, 1998 | From Bloomberg News
Santa Fe Pacific Pipeline Partners unit holders have agreed to settle a suit over Kinder Morgan Energy Partners' $1.49 billion purchase of the shipper of gasoline and jet-fuel in exchange for more information about the acquisition, according to court records. In October 1997, Houston-based Kinder Morgan Energy offered cash, stock and assumed debt equaling $55.34 per partnership unit for Orange-based Santa Fe, which owned pipelines in six states.
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BUSINESS
February 26, 1998 | John O'Dell
Santa Fe Pacific Pipeline Partners L.P. said the company and Kinder Morgan Energy Partners L.P. have agreed to settle two shareholder lawsuits that had been filed late last year to block Kinder Morgan's $1.5-billion acquisition of Santa Fe. One of the suits is pending in Orange County Superior Court, the other in state court in Delaware. Terms of the proposed settlement were not disclosed, but it would not change the financial terms of the proposed acquisition.
BUSINESS
February 26, 1998 | John O'Dell
Santa Fe Pacific Pipeline Partners L.P. said the company and Kinder Morgan Energy Partners L.P. have agreed to settle two shareholder lawsuits that had been filed late last year to block Kinder Morgan's $1.5-billion acquisition of Santa Fe. One of the suits is pending in Orange County Superior Court, the other in state court in Delaware. Terms of the proposed settlement were not disclosed, but it would not change the financial terms of the proposed acquisition.
BUSINESS
December 16, 1998 | From Bloomberg News
Santa Fe Pacific Pipeline Partners unit holders have agreed to settle a suit over Kinder Morgan Energy Partners' $1.49 billion purchase of the shipper of gasoline and jet-fuel in exchange for more information about the acquisition, according to court records. In October 1997, Houston-based Kinder Morgan Energy offered cash, stock and assumed debt equaling $55.34 per partnership unit for Orange-based Santa Fe, which owned pipelines in six states.
BUSINESS
October 21, 1997 | JOHN O'DELL, TIMES STAFF WRITER
Santa Fe Pacific Pipeline Partners, which operates a 3,300-mile network of underground pipelines for moving refined petroleum products around the West, said Monday it has agreed to be acquired for $1.15 billion by Texas pipeline operator Kinder Morgan Energy Partners. The deal, in which Kinder Morgan will pay a 28% premium over Orange-based Santa Fe Pacific's recent trading price, will create the largest publicly traded pipeline partnership in the nation, with about $325 million in annual sales.
BUSINESS
April 25, 1997
Santa Fe Pacific Pipeline Partners L.P. said it is joining TransCanada Pipelines Ltd. in an $8.5-million venture to construct and operate a transmix processing facility at Santa Fe's Colton terminal. The facility, which is expected to start operating in early 1998, will convert transmix into finished petroleum products. Transmix is the mixture of gasoline and distillate products that occurs as a result of pipeline and terminal operations.
BUSINESS
October 25, 1997 | (Times Wire Services)
A shareholder of Orange-based Santa Fe Pacific Pipeline Partners LP, the largest independent pipeline carrier of petroleum in the West, has sued to block the $1.5-billion sale of the company to Kinder Morgan Energy Partners LP. Shareholder Myron Ruderman contends in his complaint filed in Delaware that the company's controlling partners breached their fiduciary duties in making the cash-and-stock deal.
BUSINESS
October 21, 1997 | JOHN O'DELL, TIMES STAFF WRITER
Santa Fe Pacific Pipeline Partners, which operates a 3,300-mile network of underground pipelines for moving refined petroleum products around the West, said Monday it has agreed to be acquired for $1.15 billion by Texas pipeline operator Kinder Morgan Energy Partners. The deal, in which Kinder Morgan will pay a 28% premium over Orange-based Santa Fe Pacific's recent trading price, will create the largest publicly traded pipeline partnership in the nation, with about $325 million in annual sales.
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