---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-079216"
form_type: "8-K"
ticker: "OKE"
cik: "0001039684"
company_name: "ONEOK INC /NEW/"
filed_at: "2023-09-25T23:59:59+00:00"
generated_at: "2026-06-10T09:07:13.054535+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ONEOK completes Magellan Midstream acquisition; unitholders get $25 cash + 0.667 OKE shares

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-23-079216
- form_type: 8-K
- ticker: OKE
- cik: 0001039684
- company_name: ONEOK INC /NEW/
- filed_at: 2023-09-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039684/000121390023079216/0001213900-23-079216-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039684/000121390023079216/ea185725-8k_oneokinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-079216
- JSON: https://secwatch.observer/filing/0001213900-23-079216.json
- Plain text: https://secwatch.observer/filing/0001213900-23-079216.txt

## Key facts
- M&A Transactions
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039684/000121390023079216/0001213900-23-079216-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.