secwatch.observer — SEC 8-K summary
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Issuer:     DT Midstream, Inc. (DTM)
CIK:        0001842022
Form:       8-K
Filed at:   2024-11-19T23:59:59+00:00
Accession:  0001140361-24-047312
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DT Midstream to acquire three ONEOK pipelines for $1.2B; accretive to cash flow
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- Acquires Guardian, Midwestern Gas, and Viking Gas pipelines from ONEOK (NYSE: OKE) for $1.2B cash.
- Total capacity >3.7 Bcf/d across ~1,300 miles; ~10.5x 2025 EBITDA multiple.
- Financed with ~$900M debt and ~$300M equity; expected to close in late 2024 or early 2025.
- ~90% demand-pull customer base, ~85% investment-grade; pipeline segment to be ~70% of 2025 Adj. EBITDA.
- Immediately accretive to Distributable Cash Flow; bolt-on to DTM's existing Midwest assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1842022/000114036124047312/0001140361-24-047312-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1842022/000114036124047312/ny20038569x3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-047312

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