ONEOK Inc. Plunge 6.7% Amid Investor Concerns Over $4.3 Billion EnLink Midstream Acquisition

GuruFocus.com02:38

Shares of ONEOK Inc. (NYSE:OKE) declined 6.7% today due to investor concern following the company's announcement to make an acquisition of the rest of EnLink Midstream (NYSE:ENLC) for $4.3 billion. ...

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(NYSE:OKE) declined 6.7% today due to investor concern following the company's announcement to make an acquisition of the rest of EnLink Midstream (NYSE:ENLC) for $4.3 billion. ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oneok-inc-plunge-6-7-183836618.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 Inc. 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Plunge 6.7% Amid Investor Concerns Over $4.3 Billion EnLink Midstream Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-26 02:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/oneok-inc-plunge-6-7-183836618.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of ONEOK Inc. (NYSE:OKE) declined 6.7% today due to investor concern following the company's announcement to make an acquisition of the rest of EnLink Midstream (NYSE:ENLC) for $4.3 billion. ...</p>\n\n<a href=\"https://finance.yahoo.com/news/oneok-inc-plunge-6-7-183836618.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":"ENLC","symbol_name":"EnLink Midstream, LLC","start_time":0,"source_url":"https://finance.yahoo.com/news/oneok-inc-plunge-6-7-183836618.html","article_id":"2486984059","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/OhvyrTtt004fGpmEFbjQyg--~B/aD0zOTY7dz0zOTY7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/c0894cd2fed813b0a296444a3e565970"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486984059","pubTimestamp":1732559916,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shares of ONEOK Inc.  declined 6.7% today due to investor concern following the company's announcement to make an acquisition of the rest of EnLink Midstream  for $4.3 billion. Based on this calculation, themajor cause of the stock price decline is due to the offered approximately 37 million new shares will be about 6% of the total shares once the acquisition would be done.GuruFocus has detected 11 Warning Signs with OKE.The issues do not end with the dilution as investors are also concerned with how the firm will successfully integrate the acquisition and how will manage the extra debt load normally associated with such a move.ONEOK Inc., has signed a definitive merger accord in which the company will purchase all the remaining ENLK common units for 4.3 billion ONEOK common stock. The transaction terms include:","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ENLC":"EnLink Midstream, LLC","BK4585":"ETF&股票定投概念","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","OKE":"欧尼克（万欧卡）","BK4588":"碎股","IE00BN8TJ469.HKD":"FTGF CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A\" (HKD) INC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","BK4144":"石油与天然气的储存和运输"},"translate_title":"由于投资者担心43亿美元收购EnLink中游，ONEOK Inc.股价暴跌6.7%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ENLC":1,"OKE":1},"content_text":"Shares of ONEOK Inc. (NYSE:OKE) declined 6.7% today due to investor concern following the company's announcement to make an acquisition of the rest of EnLink Midstream (NYSE:ENLC) for $4.3 billion. Based on this calculation, themajor cause of the stock price decline is due to the offered approximately 37 million new shares will be about 6% of the total shares once the acquisition would be done. \n\nWarning! GuruFocus has detected 11 Warning Signs with OKE.\n\nThe issues do not end with the dilution as investors are also concerned with how the firm will successfully integrate the acquisition and how will manage the extra debt load normally associated with such a move.\nONEOK Inc., has signed a definitive merger accord in which the company will purchase all the remaining ENLK common units for 4.3 billion ONEOK common stock. The transaction terms include:\n\nExchange Ratio: \n\nEach of the outstanding common units of EnLink will be exchanged for 0.1412 share in ONEOK's common stock.\n\nNew Shares Issued:\n\nONEOK will sell about 37 million shares, or roughly 6% of the total shares outstanding after the offering iscomplete.\n\nDeal Closure: \n\nThe transaction is likely to be completed in the first three months of the financial year 2024/25 ending December.\n\nPrevious Acquisition: \n\nThis comes after ONEOK bought out GIP's entire stake in EnLink for $3.3 billion in cash announced by the company in September this year.\nThe threats associated with new shares issuance including dilution effect and the company's capacity to control the higher level of debts as the cause of the investors' mistrust occurring in the decreased value ofONEOK stock today. As the integration process progresses the company will have to show its ability of handling such a complicated transaction and allaying investor concerns for the stock price to begin to stabilize.This article first appeared on \nGuruFocus.","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/2486984059"}