ONEOK’s Pending Acquisition: Key Details in Definitive Proxy Statement
EnLink Holds Special Meeting for Unitholders on Jan. 30, 2025
EnLink Midstream, LLC and ONEOK, Inc. have exciting news to share! EnLink has filed all the necessary paperwork with the SEC for ONEOK’s upcoming acquisition of the remaining publicly held common units of EnLink.
Mark your calendars because the EnLink Special Meeting of Unitholders is set for January 30, 2025, at 10 a.m. Central Time (11 a.m. Eastern Time). The best part? It’s going to be a virtual event, so you can join from the comfort of your own home.
If you’re an EnLink unitholder as of December 23, 2024, you’re eligible to vote at the Special Meeting. The EnLink Board of Directors and the Conflicts Committee are all in agreement – they recommend voting “FOR” all proposals outlined in the definitive proxy statement.
The acquisition process hinges on the approval of a majority of outstanding EnLink common units and other standard closing conditions. But don’t worry, ONEOK has pledged to vote its units in favor of the transaction, so we’re one step closer to making this happen.
As previously announced, ONEOK will be acquiring all existing units of EnLink in a tax-free deal. For each EnLink common unit not already owned by ONEOK, it will be converted into 0.1412 shares of ONEOK common stock.
This partnership between ONEOK and EnLink will create a fully integrated Permian Basin platform and expand ONEOK’s presence in the Mid-Continent, North Texas, and Louisiana regions. The joining of these two companies is also expected to yield significant synergies, supporting ONEOK’s financial position and strategy.
We anticipate that the transaction will be finalized in the first quarter of 2025, pending approval from EnLink unitholders and meeting other customary closing conditions.
For any EnLink unitholders needing guidance on voting or with questions about the Special Meeting, feel free to reach out to EnLink’s proxy solicitor Innisfree M&A Incorporated at 866-239-1762 (toll-free) or 212-750-5833 (collect for banks and brokers).
Remember, all statements in this communication regarding the proposed transaction and its possible impacts are forward-looking. There are risks involved, but we’re confident in the positive outcomes ahead. Stay tuned for more updates as we move forward on this exciting journey together.
