secwatch.observer — SEC 8-K summary
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Issuer:     ONEOK INC /NEW/ (OKE)
CIK:        0001039684
Form:       8-K
Filed at:   2024-11-22T23:59:59+00:00
Accession:  0001039684-24-000400
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ONEOK sells three interstate gas pipelines to DT Midstream for $1.2B cash
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- Assets sold: Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission.
- Purchase price of $1.2 billion represents 10.8x EBITDA as of June 30, 2024.
- Transaction expected to close in Q4 2024; subject to Hart-Scott-Rodino clearance.
- Net proceeds to enhance financial flexibility and support deleveraging toward 3.5x target by 2026.
- Boards of both ONEOK and DT Midstream unanimously approved the definitive agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1039684/000103968424000400/0001039684-24-000400-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1039684/000103968424000400/oke-20241119.htm
  HTML page:      https://secwatch.observer/filing/0001039684-24-000400

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