Oneok magellan vote

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Pierce H. Final, formal closure of the transaction is expected early next week after legal and other reviews of details, officials from both companies told the Tulsa World. ONEOK is a leading midstream energy services provider with an approximately 40,mile network of natural gas liquids and natural gas pipelines. The combined company will own thousands of miles of liquids-oriented pipelines, with significant assets and operational expertise at the Gulf Coast and Midcontinent market hubs, ONEOK said. Norton will continue to serve as CEO of the combined company.

Oneok magellan vote

Securities and Exchange Commission. 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 Magellan Midstream Partners, L. NYSE: MMP is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. More information is available at www. This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of , as amended and Section 21E of the Securities Exchange Act of , as amended. All statements, other than statements of historical fact, included in this communication that address activities, events or developments that ONEOK or Magellan expects, believes or anticipates will or may occur in the future are forward-looking statements. Words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "potential," "create," "intend," "could," "would," "may," "plan," "will," "guidance," "look," "goal," "future," "build," "focus," "continue," "strive," "allow" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the proposed transaction between ONEOK and Magellan the "proposed transaction" , the expected closing of the proposed transaction and the timing thereof and as adjusted descriptions of the post-transaction company and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, synergies, opportunities and anticipated future performance, including maintaining current ONEOK management, enhancements to investment-grade credit profile, an expected accretion to earnings and free cash flow, dividend payments and potential share repurchases, increase in value of tax attributes and expected impact on EBITDA. Information adjusted for the proposed transaction should not be considered a forecast of future results. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. All forward-looking statements are based on assumptions that ONEOK and Magellan believe to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and neither ONEOK nor Magellan undertakes any obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

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In June, one of the top stakeholders in Magellan, Energy Income Partners, scrutinised the deal due to its difficult tax structure. Nevertheless, the unit-holders voted against compensation to be paid to top executives related to the deal. Find out more. The merger is not conditioned on the compensation vote and if the acquisition is approved then the compensation is therefore payable. In , US natural gas production was around Five of the 34 natural gas-producing states account for

The results of the Magellan vote will be disclosed after its meeting, the company said. The buyout, one of the largest private transactions in state history, has been approved unanimously by the boards of directors of both Tulsa-based companies. As of February, Magellan had ,, common units outstanding that were owned by about , record and beneficial owners, the company said. ONEOK has more than 1, institutional owners and shareholders that have filed forms with the Securities and Exchange Commission, with at least ,, shares. Magellan, first established as Williams Energy Partners in , is a publicly traded company that primarily transports, stores and distributes refined petroleum products and crude oil. Those who are investors as of July 24 will be able to vote in their respective virtual meetings, both companies said. As part of the registration process, investors will need to enter the control number found on their proxy card, voting information form or notice previously received.

Oneok magellan vote

Brings together two premier energy infrastructure businesses with strong returns on invested capital and diverse free cash flow generation. Expect to achieve immediate financial benefits, including cost, operational and tax synergies, supporting meaningful expected accretion. Compelling long-term value proposition driven by consistent and disciplined capital allocation philosophy. Complementary and diversified asset positions with potential for additional cost and commercial synergies over time. Strong investment-grade credit ratings with enhanced scale and diversification. The combination of ONEOK and Magellan will create a diversified North American midstream infrastructure company with predominately fee-based earnings, a strong balance sheet and significant financial flexibility focused on delivering essential energy products and services to our customers and continued strong returns to investors," said Pierce H.

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Don't have an account? Host Richard Kyte and Scott Rada talk about which steps can be taken to boost the social connectivity of our cities and towns, and why rural areas often face the biggest challenges. Edit Close. Episode A recent study looked at what the best places to live in America have in common. Close Followed notifications. Sign up for our daily news round-up! Sign up for our newsletter to keep reading. These forward-looking statements include, but are not limited to, statements regarding the proposed transaction between ONEOK and Magellan the "proposed transaction" , the expected closing of the proposed transaction and the timing thereof and as adjusted descriptions of the post-transaction company and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, synergies, opportunities and anticipated future performance, including maintaining current ONEOK management, enhancements to investment-grade credit profile, an expected accretion to earnings and free cash flow, dividend payments and potential share repurchases, increase in value of tax attributes and expected impact on EBITDA. Pierce H. Download a free sample We are confident about the unique quality of our Company Profiles. I would also like to subscribe to:. Company Profile — free sample Thank you!

Securities and Exchange Commission. 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

Thematic Take monthly. Magellan Midstream Partners, L. News Alert Subscribe. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. However, the absence of these words does not mean that the statements are not forward-looking. Close Followed notifications. Go deeper with GlobalData. People are also reading…. US pipeline news Acquisitions and mergers. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form By GlobalData Submit. These forward-looking statements include, but are not limited to, statements regarding the proposed transaction between ONEOK and Magellan the "proposed transaction" , the expected closing of the proposed transaction and the timing thereof and as adjusted descriptions of the post-transaction company and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, synergies, opportunities and anticipated future performance, including maintaining current ONEOK management, enhancements to investment-grade credit profile, an expected accretion to earnings and free cash flow, dividend payments and potential share repurchases, increase in value of tax attributes and expected impact on EBITDA. Additionally, the company's current Chief Commercial Officer and general council will receive multi-million-dollar packages. View all newsletters from across the GlobalData Media network. Watch Now: Related Video. Pierce H.