$14 Billion Deal to Create Mega-Pipeline Company

  • 📰 WSJ
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 63%

Singapore Singapore Headlines News

Singapore Singapore Latest News,Singapore Singapore Headlines

A $14 billion deal combining Oneok and Magellan will form the second-largest U.S.-based pipeline company by stock-market value

Pipeline operator Oneok has agreed to buy smaller rivalMidstream Partners for about $14 billion, a deal that would form one of the biggest U.S. companies involved in transporting and storing energy.

The deal’s price tag, including $8.8 billion in equity and $5.1 billion in cash, amounted to a 22% premium over Magellan’s common units as of Friday. Oneok said it would assume Magellan’s $5 billion in net debt. The deal was expected to close in the third quarter, pending the approval of regulators and investors.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 98. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines