When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
ETRACS Alerian MLP Infrastructure Index ETN Series B due April 2 2040
2023-05-16 08:00:00 ET
Summary
On Sunday, midstream corporation ONEOK announced that it will acquire MLP Magellan Midstream Partners in a cash-and-stock deal valued at $18.8 billion.
For MMP holders, the deal will be a taxable event.
The transaction value implies a 12.0x multiple relative to MMP’s estimated 2024 EBITDA.
ONEOK’s acquisition of Magellan will result in greater free cash flow generation and a more diversified corporation upon closing.