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Copano Energy (CPNO) Jumped To A New High After Merger Announcement

Copano Energy (CPNO: Quote) announced after the bell Tuesday that it agreed to be acquired by Kinder Morgan Energy Partners (KMP: Quote) for approximately $5 billion. The transaction is expected to close in the third quarter of 2013.

Copano Energy gapped open dramatically higher Wednesday, but traded in a range for the majority of the session. The stock closed up by 4.90 at $38.03 on the highest volume of the year and leaped to a new high for the year.

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by RTT Staff Writer

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