M&A
confidence high
sentiment positive
materiality 0.75
ONEOK completes $1.2B sale of three interstate gas pipelines to DT Midstream
ONEOK INC /NEW/
- Sale of Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission to DT Midstream for $1.2B cash.
- Net proceeds enhance financial flexibility toward ONEOK's leverage target of 3.5x by 2026.
- DT Midstream to establish new Tulsa office; transitioning employees will continue operating pipelines.
- President and CEO Pierce Norton states transaction advances capital allocation priorities.