ONEOK Completes EnLink Midstream Acquisition, Expands Value Chain
(P&GJ) — ONEOK Inc. has completed its acquisition of EnLink Midstream, LLC, strengthening its integrated midstream operations and diversifying its platform. The transaction was approved by EnLink unitholders at a special meeting on January 30, 2025.
"The completion of this acquisition further enhances ONEOK's integrated midstream business and provides exceptional value to all stakeholders, including EnLink unitholders who we now welcome as ONEOK shareholders," said Pierce H. Norton II, ONEOK's president and CEO.
Norton also expressed excitement about the expansion, adding, "We welcome EnLink's employees to the ONEOK team. We look forward to the many benefits this acquisition can provide."
As part of the deal, EnLink unitholders, other than ONEOK, received 0.1412 shares of ONEOK common stock for each outstanding EnLink common unit. EnLink common units will no longer be publicly traded on the New York Stock Exchange.
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