ONEOK to Acquire EnLink Midstream in $4.3 Billion Tax-Free Common Stock Deal

Nov 25, 2024, 02:25 AM

ONEOK Inc., a US pipeline operator, has announced its acquisition of EnLink Midstream in a tax-free deal valued at $4.3 billion in common stock. The agreement, confirmed in Tulsa on November 24, 2024, stipulates that each EnLink unit holder will receive 0.1412 ONEOK shares. This acquisition involves ONEOK buying the remaining common units of EnLink Midstream that it does not already own. The companies made the announcement in a joint statement.