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Oneok (OKE) just unveiled an announcement.
ONEOK, Inc. has announced two significant acquisitions set to transform its market presence. With the purchase of around 43% of EnLink Midstream, LLC at $14.90 per unit and the entire managerial interest for $300 million, alongside acquiring Medallion Midstream’s general and limited partner interests for $2.43 billion, ONEOK is poised for substantial expansion. These strategic transactions, expected to close in the fourth quarter of 2024, are backed by a $6 billion term loan and hinge on regulatory approvals. This marks a bold move in the energy sector, with ONEOK bolstering its assets and capitalizing on growth opportunities.
For an in-depth examination of OKE stock, go to TipRanks’ Stock Analysis page.