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The AQUALEGEND Crude oil tanker awaits in the Burrard Inlet before proceeding to the Kinder Morgan Westridge marine terminal in Burnaby, British Columbia, Sunday, July 8, 2012. Richard Kinder made more than $1-billion (U.S.) on Monday morning – dramatic proof that most investors believe his latest deal will create value out of a nifty piece of financial engineering. More skeptical observers may want to take a wait-and-see attitude.
The AQUALEGEND Crude oil tanker awaits in the Burrard Inlet before proceeding to the Kinder Morgan Westridge marine terminal in Burnaby, British Columbia, Sunday, July 8, 2012. Richard Kinder made more than $1-billion (U.S.) on Monday morning – dramatic proof that most investors believe his latest deal will create value out of a nifty piece of financial engineering. More skeptical observers may want to take a wait-and-see attitude.
(Rafal Gerszak For The Globe and Mail)

Kinder Morgan deal: Why investors should be wary

Richard Kinder made more than $1-billion (U.S.) on Monday morning – dramatic proof that most investors believe his latest deal will create value out of a nifty piece of financial engineering.

More skeptical observers may want to take a wait-and-see attitude. Mr. Kinder’s plan, announced Sunday, aims for a consolidation of his sprawling and complex pipeline empire into a single, enormous corporation that will own or operate 129,000 kilometres of pipelines across Canada and the United States.