Oneok Inc. will acquire the remaining common units of EnLink Midstream LLC for $4.3 billion in stock. The transaction will convert EnLink shares into 0.1412 shares of Oneok common stock, with approximately 37 million shares issued. Completion is anticipated in the first quarter of 2025.
Oneok Inc. is set to acquire the remaining shares of EnLink Midstream LLC for $4.3 billion in common stock, as announced in a joint statement. This acquisition is part of a broader trend in the US oil and gas sector, where private equity firms are divesting assets to corporate buyers. The deal will enhance Oneok's footprint in the Permian Basin.
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