ONEOK Inc agreed on Sunday to buy U.S. pipeline operator Magellan Midstream Partners in a cash-and-stock deal valued at about $18.8 billion including debt, bringing natural gas-focused ONEOK into transporting refined products and oil.
in a cash-and-stock deal valued at about $18.8 billion including debt, bringing natural gas-focused ONEOK into transporting refined products and oil.
The deal will give ONEOK, until now a transporter of 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, according to a presentation. The deal comes as U.S. natural gas prices have struggled this year because of oversupply concerns. Crude prices have traded off in 2023 on potential recession fears, although not as badly has natural gas.
The deal, expected to close in the third quarter of 2023, should be accretive to ONEOK's earnings per share beginning in 2024, with EPS accretion of 3% to 7% per year from 2025 through 2027.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
ONEOK to buy Magellan Midstream Partners in deal valued at $18.8 billionONEOK Inc agreed to buy Magellan Midstream Partners in a cash and stock deal valued at around $18.8 billion including assumed debt to diversify in the midstream oil and gas industry, the company said on Sunday.
Leer más »
Ralph Helm, Inc. in Elgin celebrates 100 yearsRalph Helm, Inc., an outdoor power equipment and parts dealer, recently celebrated a century in business in Elgin.
Leer más »
Atlis Motor Vehicles gains shareholder approval for rebrand to NxuAtlis Motor Vehicles has gained shareholder approval to rebrand to Nxu Inc. in a move to restructure its business to focus on electric vehicle batteries and charging systems. MORE ⬇️
Leer más »
Ten Years On, No One Cares About a Muslim Batman Unless He's PregnantBatman Inc writer Ed Brisson tweeted it out, the return of Nightrunner to DC Comics continuity this week in Batman Incorporated 8.
Leer más »
Drugmaker Athenex voluntarily files for U.S. Chapter 11 proceedingsDrugmaker Athenex Inc and certain of its subsidiaries voluntarily filed for Chapter 11 proceedings, the company said on Sunday.
Leer más »