NEW YORK, May 17, 2012 /PRNewswire/ --Kinder Morgan, Inc. (NYSE: KMI) will replace El Paso Corp. (NYSE: EP) in the S&P 500 index after the close of trading on Thursday, May 24. Kinder Morgan is acquiring El Paso in a deal expected to be completed on or about that date, pending final conditions.
Kinder Morgan owns and operates energy transportation and storage assets. Headquartered in Houston, TX, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Oil & Gas Storage & Transportation Sub-Industry index.
Following is a summary of the change:
S&P 500 INDEX - May 24, 2012 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | Kinder Morgan | Energy | Oil & Gas Storage & Transportation |
DELETED | El Paso | Energy | Oil & Gas Storage & Transportation |
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