ONEOK Announces Merger with EnLink Midstream

An update from Oneok ( (OKE) ) is now available.

ONEOK and EnLink Midstream announced a merger agreement where ONEOK will acquire all outstanding EnLink common units in a tax-free transaction valued at $4.3 billion. EnLink units will convert to 0.1412 shares of ONEOK stock each, enhancing liquidity and dividend prospects for EnLink unitholders. The merger, unanimously approved by the EnLink Conflicts Committee and Board, aims for completion in early 2025, pending customary conditions. This merger is expected to be accretive, solidifying ONEOK’s position in the energy infrastructure sector.

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