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Magellan Midstream Partners

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business2 years ago

ONEOK acquires Magellan Midstream Partners in $18.8B deal to create mega-pipeline company.

ONEOK Inc. is set to acquire Magellan Midstream Partners LP for $18.8 billion, creating a combined company with a total value of $60 billion. The acquisition will add a leading, primarily fee-based, refined products and crude oil transportation business to ONEOK, resulting in a more resilient energy infrastructure company that is expected to produce stable cash flows through diverse commodity cycles. The combined company will own more than 25,000 miles of liquids-oriented pipelines, with significant assets and operational expertise at the Gulf Coast and Mid-Continent market hubs. The transaction is expected to close in the third quarter of 2023 and has been unanimously approved by the board of directors of both companies.

via Tulsa World|
#acquisition#business#energy-infrastructure
finance2 years ago

ONEOK's Acquisition of Magellan Midstream Partners Raises Investor Concerns.

Shares of ONEOK fell about 9% on Monday following concerns about potential synergies from its deal to acquire Magellan Midstream Partners for $18.8 billion in cash and stock. Analysts say the businesses are quite distinct and the potential value from the deal depends heavily on the impact on ONEOK's future tax liabilities. Magellan, registered as a master limited partnership, would provide about $1.5 billion in tax benefits to ONEOK between 2024 and 2027 as part of the conversion. The combined company will have 44% of its business in transporting natural gas liquids, 21% in refined products, 7% in crude products, 10% in gas pipelines and 18% in gathering and processing.

via Yahoo Finance|
#finance#gas-pipeline-companies#magellan-midstream-partners
business2 years ago

ONEOK acquires Magellan Midstream in $18.8 billion deal, expands into oil and products.

ONEOK Inc has agreed to acquire US pipeline operator Magellan Midstream Partners in a cash-and-stock deal worth $18.8bn, including debt. The deal will give ONEOK, which has until now focused on transporting natural gas liquids and natural gas, access to Magellan's refined products and crude oil transportation business. The combined company will have 44% of its business in NGLs and 21% in refined products. The deal is expected to close in Q3 2023 and should be accretive to ONEOK's earnings per share beginning in 2024.

via Reuters|
#business#magellan-midstream-partners#natural-gas
business2 years ago

ONEOK acquires Magellan Midstream in $18.8B deal to expand into oil and products.

ONEOK Inc has agreed to acquire US pipeline operator Magellan Midstream Partners in a cash-and-stock deal worth $18.8bn, including debt. The deal will give ONEOK, which has until now focused on transporting natural gas liquids and natural gas, access to Magellan's refined products and crude oil transportation business. The combined company will have 44% of its business in NGLs and 21% in refined products. The deal is expected to close in Q3 2023 and should be accretive to ONEOK's earnings per share beginning in 2024.

via Yahoo Finance|
#business#magellan-midstream-partners#natural-gas