ONEOK and Magellan shareholders approve merger; closing set for Sept 25

ONEOK INC /NEW/

ONEOK shareholders approved with ~96% of votes cast in favor; Magellan unitholders approved with ~76% of units voted (55% of outstanding).
Transaction expected to close before market on Sept 25, 2023; Magellan units to cease trading on NYSE after Sept 22.
Consideration: $25 cash and 0.667 ONEOK shares per Magellan unit, valuing the deal at ~$18.8B including debt.
CEOs cite stronger growth prospects and value creation for combined company.

item 5.07 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ONEOK INC /NEW/ shareholders approved Stock Issuance Proposal at the 2023-09-21 meeting.

Proposal: merger approval
Outcome: passed
Meeting: 2023-09-21

Exact text from the filing

For Against Abstain Broker Non-Votes Stock Issuance Proposal 311,245,211 14,262,547 1,548,352 0

View on SEC.gov

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ONEOK INC /NEW/ filing history →

Source: SEC EDGAR

accession 0001213900-23-078749

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