Magellan midstream merger
Sep 21, 2023 · TULSA, Okla., Sept. 21, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) ("ONEOK") and Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") today announced that, at their respective Special Meetings, ONEOK shareholders and Magellan unitholders approved the previously announced merger. "We are very pleased with the strong support from ONEOK ... September 25, 2023. 3:59 PM. RSS. ONEOK, Inc. has completed its acquisition of Magellan Midstream Partners, L.P. (Magellan), creating a more diversified North American midstream infrastructure company focused on delivering energy products and services to its customers, and continued returns to investors. The transaction was approved by ONEOK ...Aug 25, 2023 · Oneok (OKE 0.99%) made a bold move in May, agreeing to acquire Magellan Midstream Partners in an $18.8 billion transaction. While Magellan isn't the greatest strategic fit since it focuses on oil ...
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Total consideration for each Magellan unit is $67.50 Consideration consists of $25.00 in cash and 0.6670 shares of ONEOK common stock, based on ONEOK’s May 12, 2023 closing price of $63.72 Represents a premium of 22% to Magellan’s closing price and 22% to Magellan’s 20-day VWAP as of May 12, 2023 $18.8 billion transaction valueFor a pipeline emergency, call 800-720-2417. If you have questions about a recent mailer you received, please contact [email protected] or call 888-945-2255. Magellan is committed to safe operations of our assets. We maintain the highest standards in safety to do so. MORE. Magellan Midstream Is Merging And Others Will Follow More From Forbes Nov 30, 2023,03:20pm EST OPEC+ Switches From ‘Saudi Lollipop’ To A Group Fudge Of Voluntary Output Cuts Nov 30,...TULSA, Okla., May 14, 2023 /PRNewswire/ — ONEOK, Inc. (NYSE: OKE) (“ONEOK”) and Magellan Midstream Partners, L.P. (NYSE: MMP) (“Magellan”) today announced that they have executed a definitive merger agreement under which ONEOK will acquire all outstanding units of Magellan in a cash-and-stock transaction valued at …Jun 8, 2023 · June 8 (Reuters) - Asset manager Energy Income Partners LLC, one of the top shareholders in Magellan Midstream Partners (MMP.N), said on Thursday that it intends to vote against pipeline operator ... Total consideration for each Magellan unit is $67.50 Consideration consists of $25.00 in cash and 0.6670 shares of ONEOK common stock, based on ONEOK’s May 12, 2023 closing price of $63.72 Represents a premium of 22% to Magellan’s closing price and 22% to Magellan’s 20-day VWAP as of May 12, 2023 $18.8 billion transaction valueJun 8, 2023 · Compared to the purported tax benefit to the combined ONEOK/Magellan entity of $1.5 billion, only 23% of which would accrue to Magellan unitholders post-merger, this deal represents an enormous ... Fitch Ratings-Toronto-15 May 2023: The agreement for ONEOK, Inc. (OKE; BBB/Stable) to purchase Magellan Midstream Partners, L.P. (MMP; NR) is neutral for OKE’s credit quality, according to Fitch Ratings. Fitch ratings does not currently rate MMP. OKE, which is the largest gathering and processing (G&P) and natural gas liquids (NGL) …Magellan shareholders will receive $25 cash and 0.67 Oneok shares for each unit of stock they hold, representing a 22 per cent premium to the company’s closing price on Friday.Jul 25, 2023 · Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") today commented on a report regarding Magellan's pending merger with ONEOK, Inc. (NYSE: OKE) ("ONEOK") written by Robert Willens, an ... To sum it up, midstream energy company Oneok offered to buy Magellan for $67.50 per unit. The units currently trade at around $66.50 or so. The units currently trade at around $66.50 or so.15 May 2023 ... A multi-billion dollar merger agreement between two energy infrastructure businesses was announced on Sunday. ONEOK agreed on Sunday to buy ...Aug 29, 2023 · Magellan urges unitholders to vote "FOR" the pending merger today. TULSA, Okla., Aug. 29, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") today announced the filing ... 5 Sept 2023 ... Shareholders of each will vote on Thursday, September 21 whether to ratify the proposed nearly $19 billion merger. The video message featured ...Sep 8, 2023 · Summary. Oneok plans to acquire Magellan Midstream Partners at a significant premium of where it was trading pre-announcement at $67.50 per share. The merger vote is set for September 21, with ... About Magellan Midstream Partners, L.P. Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products ...In May, ONEOK said it agreed to acquire all outstanding units of Magellan Midstream Partners in a cash-and-stock transaction valued at about $18.8 billion including assumed debt. Founded in the ... By Tsvetana Paraskova - May 15, 2023, 4:00 AM CDT. ONEOK will buy Magellan Midstream Partners in a cash-and-stock deal valued at $18.8 billion, creating a combined U.S. oil and gas pipeline giant ...
Sep 21, 2023 · ABOUT MAGELLAN MIDSTREAM PARTNERS: Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and ... ONEOK's acquisition of Magellan Midstream Partners might lead to more deals in the midstream space. ... The $18.8 billion merger deal is the largest in the midstream sector this year. It continues ...The acquisition will give Oneok access to a network of crude oil and refined product terminals. U.S. pipeline giant Oneok has agreed to buy Magellan Midstream Partners in an $18.8 billion cash-and ...Midstream corporation ONEOK announced last month it will acquire MLP Magellan in a cash-and-stock deal valued at $18.8 billion. The merger is expected to close in the third quarter of 2023 ...Sep 21, 2023 · Magellan Midstream Partners' unitholders on Thursday voted in favour of its sale to larger rival ONEOK Inc for $18.8 billion, creating one of the largest U.S. energy pipeline companies.
Magellan Midstream Partners unit holders have approved the pipeline company’s $19 billion merger agreement with Oneok. The deal will unite two of the country’s largest energy pipeline operators.TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) (“Magellan”) announced today that we have scheduled a virtual special meeting of unitholders for Sept. 21, 2023 at 10:00 a.m. Central in connection with our pending merger with ONEOK, Inc. (NYSE: OKE) (“ONEOK”).Compared to the purported tax benefit to the combined ONEOK/Magellan entity of $1.5 billion, only 23% of which would accrue to Magellan unitholders post-merger, this deal represents an enormous ...…
Reader Q&A - also see RECOMMENDED ARTICLES & FAQs. 15 May 2023 ... ONEOK And Magellan Merger To Create $60-Billion Pipel. Possible cause: The ONEOK-Magellan merger was narrowly approved by Magellan shareholders, with just 5.
ONEOK Inc. and Magellan Midstream Partners L.P. (MMP) announced that, at their respective Special Meetings, ONEOK shareholders and Magellan unitholders approved the previously announced merger.According to preliminary results of the ONEOK Special Meeting of Shareholders, approximately 96% of the common shares voted were …Filed by Magellan Midstream Partners, L.P. pursuant to Rule 425 under the Securities Act of 1933 . and deemed filed pursuant ... pursuant to that certain Agreement and Plan of Merger, dated May 14, 2023, by and among ONEOK, Magellan and Otter Merger Sub, LLC, a Delaware limited liability company and a newly formed, wholly owned subsidiary …Magellan Board Unanimously Recommends Unitholders Vote "FOR" the Pending Merger. TULSA, Okla., July 11, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") announced today that we have scheduled a virtual special meeting of unitholders for Sept. 21, 2023 at 10:00 a.m. Central in …
Magellan Midstream Partners LP’s fourth-largest investor plans to vote against a proposed takeover by Oneok Inc. because of the tax hit it would take in the transaction, marking a potential ...Magellan Midstream Sets Record and Meeting Dates for Pending ONEOK Merger Vote: 06/29/2023: Magellan Midstream to Announce Second-Quarter 2023 Financial Results on Aug. 3: 06/28/2023: Magellan Midstream’s 2022 Schedule K-3 Now Available: 06/27/2023: ONEOK and Magellan Announce Expiration of Hart-Scott-Rodino …
May 14 (Reuters) - ONEOK Inc (OKE.N) agreed on Sunday to buy U.S. pip For a pipeline emergency, call 800-720-2417. If you have questions about a recent mailer you received, please contact [email protected] or call 888-945-2255. Magellan is committed to safe operations of our assets. We maintain the highest standards in safety to do so. MORE. May 14, 2023 · Story continues. ONEOK, Inc. (NYSEnergy infrastructure provider Magellan Midstream Partners, L.P. MM • In addition to delivering premium value to Magellan unitholders, we believe the combined company will have stronger growth prospects, be more resilient and deliver greater value than Magellan or ONEOK could have delivered on a standalone basis. • Magellan believes diversifying into other products, particularly NGLs and natural gas, will 15 May 2023 ... and Magellan Midstream Partners, L.P. announced ONEOK will acquire Magellan in a transaction valued at about $18.8 billion as part of a merger ... On September 25, 2023, ONEOK, Inc. (NYSE 9 Jun 2023 ... The fourth-largest investor in oil pipeline operator Magellan Midstream Partners LP plans to vote against a merger with gas company Oneok Inc. TULSA, Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) Sep 21, 2023 · ABOUT MAGELLAN MIDSTREAM PARTNERS:15 May 2023 ... OneOK and Magellan Midstream Partner Oneok's (OKE) takeover offer for Magellan Midstream Partners (MMP) initially looked like a sure thing but may have just a 50-50 chance of getting completed, Andrew Bary wrote in Barron's. Matthew Monks. The head of Magellan Midstream Partners LP said its Matthew Monks. The head of Magellan Midstream Partners LP said its $19 billion merger proposal with Oneok Inc. is the best option for the energy pipeline operator’s unitholders, despite a major investor’s objection that it comes with a hefty tax bill. Magellan Chief Executive Officer Aaron Milford said in an interview Tuesday that master ...Magellan Midstream Partners (NYSE:MMP) unitholder Energy Income Partners said Thursday it plans to vote against the company's proposed merger with Oneok (NYSE:OKE). In a letter to the Magellan ... May 14, 2023 · TULSA, Okla. – May 14, 2023 – ONEOK, Inc. (NYSE: O[15 May 2023 ... RIP Magellan Midstream employees. ... TheONEOK, Inc. OKE and Magellan Midstream Pa Oneok's $18.8 billion deal for Magellan Midstream Partners ... UBS Global Research analyst Brian Reynolds said he expected a negative market reaction to the Oneok merger announcement. Not only is ...