Oneok To Acquire Magellan Midstream Partners In Transaction Valued At $18.8 Billion
Acquiring Company
ONEOK
Acquired Company
Magellan Midstream Partners
TulsaEnergyOil And GasEnergyOil And GasDescription
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 approximately $18.8 billion including assumed debt, resulting in a combined company with a total enterprise value of $60.0 billion. The consideration will consist of $25.00 in cash and 0.6670 shares of ONEOK common stock for each outstanding Magellan common unit, representing a current implied value to each Magellan unitholder of $67.50 per unit, for a 22% premium, based on May 12, 2023 closing prices.
Quick answer
ONEOK is acquiring Magellan Midstream Partners for $18.8 billion, announced May 14, 2023. ONEOK is based in Tulsa, Oklahoma, United States.
- How much did ONEOK pay for Magellan Midstream Partners?
- The reported deal value is $18.8 billion.
- What does ONEOK do?
- ONEOK delivers energy products and services vital to an advancing world.
- Where are ONEOK and Magellan Midstream Partners based?
- ONEOK is based in Tulsa, Oklahoma, United States.
- Who are the decision-makers at ONEOK?
- Fundz holds 1 contact at ONEOK. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Magellan Midstream Partners?
Magellan Midstream Partners was acquired by ONEOK, based in Tulsa. The deal was reported on May 14, 2023. ONEOK delivers energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. ONEOK is privately held and operates in Energy.
When did ONEOK acquire Magellan Midstream Partners?
ONEOK's acquisition of Magellan Midstream Partners was reported on May 14, 2023. ONEOK, Inc. (NYSE: OKE) ("ONEOK") and Magellan Midstream Partners, L.P. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Magellan Midstream Partners do?
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. It is privately held, operating in Energy.
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