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ONEOK Announces Agreement to Acquire Remaining Publicly Held Common Units in EnLink Midstream in a Tax-Free Transaction [Yahoo! Finance]

ONEOK, Inc. (OKE) 
Last oneok, inc. earnings: 4/28 04:15 pm Check Earnings Report
Company Research Source: Yahoo! Finance
TULSA, Okla. Nov. 24, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) ("ONEOK") and EnLink Midstream, LLC (NYSE: ENLC) ("EnLink") today announced that they have executed a definitive merger agreement under which ONEOK will acquire all of the outstanding publicly held common units of EnLink for $4.3 billion in ONEOK common stock. Under the agreement, each outstanding common unit of EnLink that ONEOK does not already own will be converted into 0.1412 shares of ONEOK common stock. The exchange ratio was derived by dividing per unit, equal to EnLink's market close price on Nov. 22, 2024 , by ONEOK's 10-day volume-weighted average price (VWAP). In the aggregate, ONEOK will issue approximately 37.0 million shares in connection with the proposed transaction, representing approximately 6.0% of the total ONEOK shares outstanding upon consummation of the transaction. The Board of Directors of the managing member of EnLink (the "EnLink Board") delegated to the Conflicts Committee of such boa Show less Read more
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