ONEOK Announces Agreement to Acquire Remaining Publicly Held Common Units in EnLink Midstream in a Tax-Free Transaction
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ONEOK, Inc. has announced a definitive merger agreement to acquire all outstanding publicly held common units of EnLink Midstream, LLC in a tax-free transaction valued at $4.3 billion. The consideration will be 0.1412 shares of ONEOK common stock for each EnLink common unit.
November 25, 2024 | 2:15 am
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POSITIVE IMPACT
EnLink Midstream's publicly held common units will be acquired by ONEOK in a $4.3 billion stock transaction, potentially affecting its stock value and investor sentiment.
The acquisition by ONEOK could lead to a positive short-term impact on EnLink's stock value as investors anticipate the benefits of the merger. The transaction is valued at $4.3 billion, reflecting a significant change in ownership structure.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
ONEOK is acquiring all publicly held common units of EnLink Midstream in a $4.3 billion stock transaction, potentially increasing its market presence and operational scale.
The acquisition of EnLink's publicly held units by ONEOK is a significant move that could enhance ONEOK's market position and operational capabilities. The transaction is valued at $4.3 billion, indicating a substantial investment and commitment to growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100