Oneok (OKE) and Magellan Midstream Partners (MMP) announced that, at their respective special meetings, Oneok shareholders and Magellan unitholders approved the previously announced merger. The merger remains subject to satisfaction of other customary closing conditions and is anticipated to close before market on Monday, September 25, with Magellan common units expected to cease trading on the New York Stock Exchange at the close of business on Friday, September 22. As previously announced, upon completion of the transaction, Magellan unitholders will receive $25.00 in cash and 0.667 shares of Oneok common stock for each outstanding Magellan common unit they own immediately prior to the effective time of the transaction.
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Read More on OKE:
- ONEOK Shareholders and Magellan Unitholders Approve Merger
- Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend ONEOK Shareholders Vote “FOR” Pending Acquisition of Magellan Midstream Partners
- Leading Independent Proxy Advisory Firm ISS Recommends Magellan Midstream Unitholders Vote “FOR” the Transaction with ONEOK
- ISS recommends Magellan Midstream investors vote for Oneok transaction
- Leading Independent Proxy Advisory Firm Glass Lewis Recommends Magellan Midstream Unitholders Vote “FOR” the Transaction with ONEOK