Wow.
Here’s the press release: “Kinder Morgan, Inc. to Purchase KMP, KMR and EPB; 2015 KMI Dividend to Increase to $2 per Share”
Here’s my Google Drive spreadsheet that calculates the merger spreads.
I may do a follow-up post with thoughts on the merger.
*Disclosure: Long KMI warrants and call options.
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Do you know what will happen to kmi warrants?
I’m guessing nothing. The 40c/quarter dividend will not go high enough to trigger the dividend protection feature. The debt won’t change materially.
It will be interesting to see what price KMI opens at tomorrow. It may open lower.
Thanks for the google drive spreadsheet