---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-074576"
form_type: "8-K"
ticker: "OKE"
cik: "0001039684"
company_name: "ONEOK INC /NEW/"
filed_at: "2024-08-30T23:59:59+00:00"
generated_at: "2026-05-31T06:44:53.160160+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-24-074576
- form_type: 8-K
- ticker: OKE
- cik: 0001039684
- company_name: ONEOK INC /NEW/
- filed_at: 2024-08-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039684/000121390024074576/0001213900-24-074576-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039684/000121390024074576/ea0212618-8k_oneok.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-074576
- JSON: https://secwatch.observer/filing/0001213900-24-074576.json
- Plain text: https://secwatch.observer/filing/0001213900-24-074576.txt

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