Kinder Morgan recommends shareholders reject offer by TRC Capital

Kinder Morgan Inc. (NYSE: KMI) has received notice of an unsolicited “mini-tender” offer by TRC Capital Corp. to purchase up to 4 million shares of Kinder Morgan’s Class P common stock at a price of $23.30 per share in cash. The offering price is 4.51% below the closing price per share of Kinder Morgan’s Class P common stock on Nov. 11, the last trading day before the offer was begun. The offer is for 0.18% of the outstanding shares of Kinder Morgan Class P common stock.

Kinder Morgan does not endorse TRC Capital’s unsolicited mini-tender offer and recommends that shareholders do not tender their shares. Kinder Morgan is not associated with TRC Capital, its mini-tender offer, or the mini-tender offer documentation.

Mini-tender offers are not subject to many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with the US Securities and Exchange Commission and other procedures mandated by US securities laws.

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