Oneok magellan vote

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Securities and Exchange Commission. The merger remains subject to satisfaction of other customary closing conditions and is anticipated to close before market on Monday, September 25, , with Magellan common units expected to cease trading on the New York Stock Exchange at the close of business on Friday, September Magellan Midstream Partners, L. NYSE: MMP is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. More information is available at www. This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of , as amended and Section 21E of the Securities Exchange Act of , as amended. All statements, other than statements of historical fact, included in this communication that address activities, events or developments that ONEOK or Magellan expects, believes or anticipates will or may occur in the future are forward-looking statements.

Oneok magellan vote

In June, one of the top stakeholders in Magellan, Energy Income Partners, scrutinised the deal due to its difficult tax structure. Nevertheless, the unit-holders voted against compensation to be paid to top executives related to the deal. Find out more. The merger is not conditioned on the compensation vote and if the acquisition is approved then the compensation is therefore payable. In , US natural gas production was around Five of the 34 natural gas-producing states account for Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge. We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form. Give your business an edge with our leading industry insights.

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For full functionality of this site it is necessary to enable JavaScript. Here are the instructions how to enable JavaScript in your web browser. Yet, unitholders did vote against executive officers related to the deal being paid compensation. Magellan, in its proxy, cautions that the merger is not conditioned on the compensation vote and that if the acquisition is approved, the executive compensation is payable. Additionally, the company's current Chief Commercial Officer and general council will receive multi-million-dollar packages.

Following shareholder approvals, the deal is expected to close before markets open on Monday, Sept. East Daley has highlighted investor questions about how commercial synergies can be derived from the deal. In a Sept. The institutions who voted for this deal did not incur the tax, their underlying taxable investors do. Both companies will disclose the final shareholder voting results with the U. Securities and Exchange Commission. Chris covers the North American upstream shale energy industry and the acquisition and divestiture deal markets. Energy Corp. Between June 22 and Oct.

Oneok magellan vote

The special meeting of unitholders will be held virtually on Sept. Magellan unitholders of record at the close of business on July 24, are entitled to vote at or in advance of the special meeting. Magellan unitholders are encouraged to vote and submit proxies in advance of the special meeting and will have until p. Eastern Time on Sept. Unitholders will be receiving proxy cards or other instructions regarding how to vote on the transaction during the course of the next few days. Milford continued, "In order to receive full value for your units through the completion of the pending transaction, we are asking all Magellan unitholders to vote 'FOR' the merger-related proposals by following the instructions on the WHITE proxy card. Magellan's 1 job is maximizing value for our unitholders. We believe this transaction does that and here's why:. Combination captures full value for MMP units that is significantly greater than Magellan would expect to achieve on a standalone basis.

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These forward-looking statements include, but are not limited to, statements regarding the proposed transaction between ONEOK and Magellan the "proposed transaction" , the expected closing of the proposed transaction and the timing thereof and as adjusted descriptions of the post-transaction company and its operations, strategies and plans, integration, debt levels and leverage ratio, capital expenditures, cash flows and anticipated uses thereof, synergies, opportunities and anticipated future performance, including maintaining current ONEOK management, enhancements to investment-grade credit profile, an expected accretion to earnings and free cash flow, dividend payments and potential share repurchases, increase in value of tax attributes and expected impact on EBITDA. Users can customize the app so you see the stories most important to you. Find out more. Save hours of research. Related content. Steve Biagiotti, Jr. Your notification has been saved. The combined company will own thousands of miles of liquids-oriented pipelines, with significant assets and operational expertise at the Gulf Coast and Midcontinent market hubs, ONEOK said. Please log in to use this feature Log In. Tulsa, OK

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Sign Up Today. Subscriber Login. Asked in an interview earlier this year how the combined company, if approved, would affect the average Magellan employee, Milford said:. Please log in to use this feature Log In. Sign up for our daily news round-up! Episode A recent study looked at what the best places to live in America have in common. Share this. Michael Dekker. Norton will continue to serve as CEO of the combined company. All forward-looking statements are based on assumptions that ONEOK and Magellan believe to be reasonable but that may not prove to be accurate. Get up-to-the-minute news sent straight to your device. ONEOK is a leading midstream energy services provider with an approximately 40,mile network of natural gas liquids and natural gas pipelines. Fifth St. Yoho, P. Notifications Settings.