ONEOK Announces Deal to Acquire Remaining EnLink Stock for $4.3B

Zacks11-25 21:42

ONEOK, Inc. OKE announced that it has signed a definitive merger agreement, under which it will acquire all of the outstanding publicly held common units of EnLink Midstream ENLC for $4.3 billion in ...

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OKE announced that it has signed a definitive merger agreement, under which it will acquire all of the outstanding publicly held common units of EnLink Midstream ENLC for $4.3 billion in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oneok-announces-deal-acquire-remaining-134200435.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ONEOK Announces Deal to Acquire Remaining EnLink Stock for $4.3B</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nONEOK Announces Deal to Acquire Remaining EnLink Stock for $4.3B\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-25 21:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oneok-announces-deal-acquire-remaining-134200435.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ONEOK, Inc. OKE announced that it has signed a definitive merger agreement, under which it will acquire all of the outstanding publicly held common units of EnLink Midstream ENLC for $4.3 billion in ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oneok-announces-deal-acquire-remaining-134200435.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2237443382.USD","symbol_name":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","start_time":0,"source_url":"https://finance.yahoo.com/news/oneok-announces-deal-acquire-remaining-134200435.html","article_id":"2486036058","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ASssTeY55AjnPNR42COs2A--~B/aD0zNDk7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/284cd195f1b0e007821e04d087111e93"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486036058","pubTimestamp":1732542120,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"ONEOK, Inc. OKE announced that it has signed a definitive merger agreement, under which it will acquire all of the outstanding publicly held common units of EnLink Midstream ENLC for $4.3 billion in ONEOK common stock.This new deal was initiated after ONEOK successfully completed its acquisition of Global Infrastructure Partners' entire interest in EnLink on Oct. 15, 2024, for a total cash consideration of nearly $3.3 billion.Over the past three months, ONEOK’s shares have risen 32.1% compared with the industry’s 18.3% growth.ONEOK currently has a Zacks Rank #3 . You can see the complete list of today’s Zacks #1 Rank  stocks here.Want the latest recommendations from Zacks Investment Research?Today, you can download 7 Best Stocks for the Next 30 Days. 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OKE announced that it has signed a definitive merger agreement, under which it will acquire all of the outstanding publicly held common units of EnLink Midstream ENLC for $4.3 billion in ONEOK common stock.This new deal was initiated after ONEOK successfully completed its acquisition of Global Infrastructure Partners' entire interest in EnLink on Oct. 15, 2024, for a total cash consideration of nearly $3.3 billion.\nKey Details of OKE’s Merger Deal\nAs per the agreement, each outstanding common unit of EnLink that ONEOK does not already own will be converted into 0.1412 shares of ONEOK common stock. The exchange ratio was calculated by dividing the 10-day volume-weighted average price of ONEOK by $15.75 per unit, which was the market close price of EnLink on Nov. 22, 2024.ONEOK will issue around 37 million shares in relation to the proposed deal, which amounts to roughly 6% of all ONEOK shares that will be outstanding when the deal is completed.ONEOK agreed to support the deal by voting its units, which account for about 44% of the remaining EnLink common units. To finish the deal, no vote from ONEOK shareholders is needed. The deal is expected to be closed in the first quarter of 2025.\nMerger & Acquisitions in Oil & Gas Sector\nHere are some oil and gas companies that are also focused on expanding their operations through mergers and acquisitions.Energy Transfer ET recently completed the acquisition of WTG Midstream Holdings LLC. The firm paid $2.28 billion in cash and nearly 50.8 million newly issued ET common units to complete the agreement. This acquisition expanded Energy Transfer’s presence in the Midland Basin by adding 6,000 miles of complementary gas-gathering pipelines in the region. The partnership expects the WTG assets to add approximately 4 cents of distributable cash flow per common unit in 2025, increasing to approximately 7 cents per common unit in 2027.ET’s long-term (three to five-year) earnings growth rate is 23.24%. The Zacks Consensus Estimate for 2024 earnings per unit indicates a year-over-year increase of 22.9%.TotalEnergies SE TTE: During the third quarter of 2024, it acquired $1.8 billion worth of assets. These strategic acquisitions should assist the company in further expanding its multi-energy assets worldwide.TTE’s long-term earnings growth rate is 3.91%. The Zacks Consensus Estimate for 2024 earnings per share indicates a year-over-year decrease of 16.1%.\nOKE’s Stock Price Performance\nOver the past three months, ONEOK’s shares have risen 32.1% compared with the industry’s 18.3% growth.\n \nImage Source: Zacks Investment Research\nOKE’s Zacks Rank\nONEOK currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nONEOK, Inc. (OKE) : Free Stock Analysis Report\nEnergy Transfer LP (ET) : Free Stock Analysis Report\nEnLink Midstream, LLC (ENLC) : Free Stock Analysis Report\nTotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486036058"}