ONEOK to acquire 43% of EnLink and Medallion from GIP for $5.9B

ONEOK INC /NEW/

Total consideration $5.9B: $3.3B for EnLink interests ($14.90/unit for 43% of units + $300M for managing member) and $2.6B for Medallion.
Deals expected to close early Q4 2024, subject to HSR clearance; ONEOK plans to pursue tax-free acquisition of remaining EnLink public units.
Transactions immediately accretive to EPS and FCF; expected annual synergies of $250M-$450M within three years.
Pro forma 2025 year-end net debt-to-EBITDA ~3.9x, targeting 3.5x during 2026; $6.0B committed financing from JPMorgan and Goldman Sachs.
Medallion acquisition at ~6.3x estimated 2025 EBITDA including base-case synergies; ONEOK maintains investment-grade credit ratings.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.