Kinder Morgan said it has reached a deal to consolidate all of its four publicly traded units into a traditional corporation, which is expected to become the fourth-largest energy company in the U.S., according to market value. Chairman and CEO Richard Kinder said the merger "will allow us to further expand the reach of the kind of projects we can do." The deal will need to undergo regulatory and shareholder approval and is expected to be completed by the end of the year.

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