Shareholders of El Paso Corp. (NYSE: EP) have overwhelmingly approved the company’s $24 billion merger with Kinder Morgan Inc. (NYSE: KMI). El Paso reported this morning that 79% of shareholders voted on the deal and 95% supported the merger.
The vote was delayed by three days in order to give shareholders time to evaluate a statement by a Delaware judge in a suit filed opposing the merger that there were certain improprieties in the negotiations leading to the agreement.
The agreement is still be reviewed by the Federal Trade Commission, and Kinder Morgan has said that it expects the deal to be approved in the second quarter.
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