ONEOK INC /NEW/ (OKE): M&A transaction — ONEOK completes Magellan Midstream acquisition; unitholders get $25 cash + 0.667 OKE shares

ONEOK INC /NEW/

Merger closed Sept 25, 2023; Magellan unitholders received $25 cash and 0.667 ONEOK shares per unit.
Magellan common units delisted from NYSE; OKE stock continues trading on NYSE.
Transaction approved by ONEOK shareholders and Magellan unitholders on Sept 21, 2023.
Combined company aims to create more diversified North American midstream infrastructure platform.
Magellan's debt guarantees acquired; supplemental indentures and credit guarantee executed at closing.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ONEOK INC /NEW/ completed an acquisition involving Magellan Midstream Partners, L.P. for 0.667 shares of ONEOK common stock and cash in the amount of $25.00 (closed 2023-09-25).

Action: acquisition
Counterparty: Magellan Midstream Partners, L.P.
Consideration: 0.667 shares of ONEOK common stock and cash in the amount of $25.00
Closing: 2023-09-25

Exact text from the filing

On September 25, 2023 (the "Closing Date"), Otter Merger Sub, LLC ("Merger Sub"), a Delaware limited liability company and wholly owned, direct, subsidiary of ONEOK, Inc., an Oklahoma corporation (the "Company" or "ONEOK"), completed its merger (the "Merger") with and into Magellan Midstream Partners, L.P. a Delaware limited partnership ("Magellan"), as a result of which Magellan became a wholly owned, direct, subsidiary of the Company.

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ONEOK INC /NEW/ filing history →

Source: SEC EDGAR

accession 0001213900-23-079216

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