ONEOK to Acquire EnLink Midstream in $4.3B Deal

EnLink Midstream ( (ENLC) ) has provided an announcement.

ONEOK is set to acquire the remaining publicly held common units of EnLink Midstream in a tax-free transaction valued at $4.3 billion, offering EnLink unitholders 0.1412 shares of ONEOK stock per unit. This strategic move, endorsed by EnLink’s Conflicts Committee and Board, aims to enhance trading liquidity and dividend yield for EnLink unitholders while strengthening ONEOK’s infrastructure and market position. The merger, expected to close in early 2025, is subject to customary approvals but requires no additional regulatory consent.

See more data about ENLC stock on TipRanks’ Stock Analysis page.