Holders of EnLink units voted in favor of ONEOK’s $4.3 billion acquisition of the stock, ONEOK announced Jan. 30.
According to a press release, 82.9% of EnLink’s common unit holders, representing 379.1 million units, voted. Of the votes, 99.8% of voters were in favor of the transaction in ONEOK’s preliminary results.
Each outstanding EnLink unit not currently owned by ONEOK will be converted into 0.1412 shares of ONEOK common stock.
ONEOK’s acquisition of EnLink was announced in August. ONEOK purchased a controlling interest in the midstream company in a $3.3 billion deal. In November, ONEOK published its intention to purchase the remaining units of EnLink’s common stock.
ONEOK expects the acquisition to close Jan. 31 with EnLink common units to cease trading on the New York Stock Exchange the same day.
Recommended Reading
Dividends Declared Week of April 21
2025-04-25 - With first-quarter 2025 earnings underway, here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
EON Deal Adds Permian Interests, Restructures Balance Sheet
2025-02-11 - EON Resources Inc. will acquire Permian overriding royalty interests in a cash-and-equity deal with Pogo Royalty LLC, which has agreed to reduce certain liabilities and obligations owed to it by EON.
Mach Prices Common Units, Closes Flycatcher Deal
2025-02-06 - Mach Natural Resources priced a public offering of common units following the close of $29.8 million of assets near its current holdings in the Ardmore Basin on Jan. 31.
Dividends Declared Weeks of April 7, 14
2025-04-18 - First-quarter 2025 earnings season is underway. Here is a compilation of dividends declared in the last two weeks from select upstream, midstream and service and supply companies.
USD Completes Final Asset Sale of Hardisty Terminal
2025-04-13 - USD Partners was obligated to sell the Hardisty Terminal, in Alberta, Canada, after entering a forbearance agreement with its lenders on June 21 2024.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.