Magellan Midstream Files Investor Presentation Highlighting Benefits Of Pending ONEOK Transaction
Portfolio Pulse from Happy Mohamed
Magellan Midstream Partners (MMP) has filed an investor presentation with the U.S. Securities and Exchange Commission regarding its pending merger with ONEOK, Inc. (OKE). The merger is expected to provide significant value to Magellan unitholders, with a meaningful upfront cash consideration and substantial ownership in a stronger combined company. The transaction multiple and premium exceed precedent industry transactions, representing the highest EV/EBITDA multiple of comparable midstream energy transactions since 2016.
August 29, 2023 | 8:39 pm
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POSITIVE IMPACT
The pending merger with ONEOK is expected to provide significant value to Magellan unitholders, potentially leading to a positive impact on MMP's stock price.
The merger is expected to provide significant value to Magellan unitholders, with a meaningful upfront cash consideration and substantial ownership in a stronger combined company. This could lead to increased investor confidence and a potential rise in MMP's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
ONEOK's pending merger with Magellan Midstream Partners could strengthen the combined company and potentially boost OKE's stock price.
The merger with Magellan Midstream Partners is expected to result in a stronger combined company with greater growth opportunities, scale, diversification, and resilience. This could lead to increased investor confidence and a potential rise in OKE's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100