WILMINGTON, Del. (AP) -- A Delaware judge is approving a $110 settlement in a shareholder lawsuit challenging Kinder Morgan Inc. s $21 billion acquisition of El Paso Corp., which created the country s largest natural gas pipeline operator.
Chancellor Leo Strine Jr. approved the settlement following a hearing Monday.
Strine earlier this year refused to block the acquisition, saying El Paso shareholders should decide whether to approve the deal. That s despite claims that El Paso executives had undervalued the company and that El Paso s financial adviser, Goldman Sachs & Co., had a conflict of interest because it owned almost 20 percent of Houston-based Kinder Morgan at the time.
Under the settlement, none of the defendants admitted wrongdoing, but Goldman Sachs was not paid $20 million for serving as Houston-based El Paso s financial adviser.