ONEOK Announces Deal to Acquire Remaining EnLink Stock for $4.3B [Yahoo! Finance]
ONEOK, Inc. (OKE)
Last oneok, inc. earnings: 4/28 04:15 pm
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Source: Yahoo! Finance
This new deal was initiated after ONEOK successfully completed its acquisition of Global Infrastructure Partners' entire interest in EnLink on Oct. 15, 2024, for a total cash consideration of nearly $3.3 billion. As per 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 calculated by dividing the 10-day volume-weighted average price of ONEOK by $15.75 per unit, which was the market close price of EnLink on Nov. 22, 2024. ONEOK will issue around 37 million shares in relation to the proposed deal, which amounts to roughly 6% of all ONEOK shares that will be outstanding when the deal is completed. ONEOK agreed to support the deal by voting its units, which account for about 44% of the remaining EnLink common units. To finish the deal, no vote from ONEOK shareholders is needed. The deal is expected to be closed in the first quarter of 2025. Here are some oil and g
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News
- Institutional investors in ONEOK, Inc. (NYSE:OKE) lost 6.4% last week but have reaped the benefits of longer-term growth [Yahoo! Finance]Yahoo! Finance
- ONEOK, Inc. (NYSE: OKE) was downgraded by analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating. They now have a $107.00 price target on the stock.MarketBeat
- Is Nuveen ESG Mid-Cap Value ETF (NUMV) a Strong ETF Right Now? [Yahoo! Finance]Yahoo! Finance
- ONEOK to Participate in Investor Conference [Yahoo! Finance]Yahoo! Finance
- ONEOK to Participate in Investor ConferencePR Newswire
OKE
Earnings
- 10/29/24 - Miss
OKE
Sec Filings
- 12/11/24 - Form 8-K
- 12/9/24 - Form S-4
- 12/5/24 - Form 8-K
- OKE's page on the SEC website