Reported Earlier, ONEOK To Acquire Medallion And Majority Stake In EnLink In A $5.9B Deal, Strengthening Permian Basin Platform
Portfolio Pulse from Benzinga Newsdesk
ONEOK is set to acquire Medallion and a majority stake in EnLink for $5.9 billion, enhancing its Permian Basin platform. The deal is expected to immediately boost EPS and FCF, provide synergies, and maintain strong credit ratings. ONEOK plans a tax-free acquisition of EnLink's publicly held interests post-transaction.

August 29, 2024 | 6:46 am
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EnLink is involved in a $5.9 billion deal where ONEOK will acquire a majority stake, potentially leading to a tax-free acquisition of EnLink's publicly held interests.
The acquisition by ONEOK could lead to a tax-free acquisition of EnLink's publicly held interests, which may positively impact EnLink's stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
ONEOK's acquisition of Medallion and a majority stake in EnLink for $5.9 billion is expected to enhance its Permian Basin platform, immediately boost EPS and FCF, and maintain strong credit ratings.
The acquisition is a strategic move to strengthen ONEOK's position in the Permian Basin, promising immediate financial benefits and maintaining credit ratings, which is positive for investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100