OKE News and Press, ONEOK Inc. From 05/16/23

2023-05-16 12:20:44 ET Summary ONEOK, Inc.’s acquisition of Magellan Midstream Partners, L.P. is good for ONEOK shareholders. The deal is not as good for Magellan unitholders, but allows for an exit into an attractive combined entity. The selloff in ONEOK shares is a bu...

2023-05-16 10:28:35 ET Magellan Midstream Partners ( NYSE: MMP ) -1.5% in early trading Tuesday, giving back a sliver of its 13.5% gain that followed news of Oneok's ( OKE ) purchase of the partnership in a cash and stock deal initially valued at $67.50/unit. The com...

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 multi...

2023-05-16 07:18:00 ET Pipeline companies ONEOK (NYSE: OKE) and Magellan Midstream Partners (NYSE: MMP) are merging to create a $60 billion energy infrastructure giant. The transformative transaction will form a much more diversified energy midstream compan...

2023-05-15 14:01:34 ET Shares of Magellan Midstream Partners LP ( NYSE: MMP ) opened 15% up on Monday after Oneok Inc ( NYSE: OKE ) said it will buy the petroleum products distributor for $18.8 billion. What’s in it for Magellan shareholders? The transaction is ex...

2023-05-15 13:23:12 ET Summary ONEOK, Inc. has announced a massive acquisition of Magellan Midstream Partners, L.P. for almost $19 billion, through cash, equity, and an assumption of debt. The acquisition will be substantially accretive to ONEOK's free cash flow, enabling an incre...

2023-05-15 12:14:04 ET In a megadeal announced this past weekend, Oneok (NYSE: OKE) and Magellan Midstream Partners (NYSE: MMP) are combining forces to create one of the largest oil and gas infrastructure companies in the U.S. The two pipeline stocks, however, aren't rec...

2023-05-15 11:47:42 ET Oneok ( NYSE: OKE ) -9.5% in Monday's trading following its $18.8B deal to buy Magellan Midstream Partners ( NYSE: MMP ) to form one of the biggest U.S. companies involved in transporting and storing energy. The acquisition will give Oneok ...

2023-05-15 11:32:34 ET Summary ONEOK, Inc. and Magellan Midstream Partners, L.P. agreed on an acquisition. ONEOK will pay a takeover premium of a little more than 20%. This deal will be accretive on a per-share basis. There could be major tax implications for Magellan Mids...

2023-05-15 08:24:37 ET Athenex ( ATNX ) -60% after bankruptcy filing . Larimar Therapeutics ( LRMR ) -34% reports preliminary top-line data from phase 2 trial’s 25 mg cohort showing increases in frataxin levels in patients with Friedreich’s Ataxia...