---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-079220"
form_type: "8-K"
ticker: null
cik: "0001126975"
company_name: "Magellan Midstream Partners, L.P."
filed_at: "2023-09-25T23:59:59+00:00"
generated_at: "2026-06-10T09:07:45.258071+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# ONEOK completes acquisition of Magellan Midstream Partners; units converted to stock plus cash

## Summary
- Each Magellan unit converted into 0.667 ONEOK shares plus $25 cash.
- Magellan units delisted from NYSE as of September 25, 2023; Form 15 to be filed.
- Credit facility terminated; all outstanding principal, interest and fees repaid.
- All directors and named executive officers resigned; Pierce H. Norton II appointed CEO of general partner.

## SEC filing metadata
- accession: 0001213900-23-079220
- form_type: 8-K
- cik: 0001126975
- company_name: Magellan Midstream Partners, L.P.
- filed_at: 2023-09-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.02, 2.01, 3.01, 3.03, 5.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/ea185726-8k_magellan.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-079220
- JSON: https://secwatch.observer/filing/0001213900-23-079220.json
- Plain text: https://secwatch.observer/filing/0001213900-23-079220.txt

## Key facts
- Executive change
  Stacy P. Methvin resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Barry R. Pearl resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Sivasankaran Somasundaram resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Pierce H. Norton II was appointed as President and Chief Executive Officer at Magellan Midstream Partners, L.P..
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: Effective as of the Effective Time, Pierce H. Norton II was appointed President and Chief Executive Officer of the General Partner
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Chansoo Joung resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Aaron L. Milford resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Walter R. Arnheim resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  James R. Montague resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Lori A. Gobillot resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Edward J. Guay resigned as Director at Magellan Midstream Partners, L.P..
  - Action: resigned
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, Mr. Aaron L. Milford, Mr. Chansoo Joung, Mr. Edward J. Guay, Mr. Walter R. Arnheim, Mr. James R. Montague, Mr. Barry R. Pearl, Mr. Sivasankaran Somasundaram, Ms. Stacy P. Methvin and Ms. Lori A. Gobillot resigned as directors of Magellan GP, LLC, the general partner of Magellan (the “General Partner”), effective as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Executive change
  Walter S. Hulse III was appointed as Chief Financial Officer, Treasurer and Executive Vice President, Investor Relations and Corporate Development at Magellan Midstream Partners, L.P..
  - Action: appointed
  - Role: Chief Financial Officer, Treasurer and Executive Vice President, Investor Relations and Corporate Development
  source text: Walter S. Hulse III was appointed Chief Financial Officer, Treasurer and Executive Vice President, Investor Relations and Corporate Development of the General Partner.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- M&A Transactions
  Magellan Midstream Partners, L.P. underwent a change of control involving ONEOK, Inc. (closed 2023-09-25).
  - Action: change of control
  - Counterparty: ONEOK, Inc.
  - 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 (“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 ONEOK.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm
- Material Agreements
  Magellan Midstream Partners, L.P. terminated Credit Agreement with Wells Fargo Bank, National Association, as Administrative Agent, and the other lenders party thereto (effective 2023-09-25).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as Administrative Agent, and the other lenders party thereto
  - Effective: 2023-09-25
  source text: on September 25, 2023, Magellan, at the direction of ONEOK, terminated all outstanding lender commitments, including commitments of the lenders to issue letters of credit, under the Second Amended and Restated Credit Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1126975/000121390023079220/0001213900-23-079220-index.htm

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