ONEOK closes $3.3B acquisition of GIP's controlling stake in EnLink Midstream

ONEOK INC /NEW/

Total cash consideration of approximately $3.3 billion for 43% of EnLink common units at $14.90/unit plus $300M for managing member interests.
HSR waiting period expired; ONEOK now controls EnLink's managing member and will appoint new board members including CEO Pierce Norton as chairman.
ONEOK intends to pursue tax-free acquisition of the publicly held EnLink common units.
EnLink will be a consolidated subsidiary of ONEOK for GAAP reporting; both OKE and ENLC remain publicly traded on NYSE.

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