6/8/2023 0 Comments Over the edge magellanOneok expects the acquisition to boost its annual per-share earnings by 3.0% to 7.0% from 2025 through 2027. Versus the start of the year, Magellan Midstream stock is up roughly 25% at writing. This acquisition creates a more resilient energy infrastructure company that is expected to produce stable cash flows through diverse commodity cycles. Magellan shareholders will receive $25 a share in cash and the remaining 63% will be paid to them in Oneok stock. The transaction is expected to complete in the third quarter of the current year and will create an oil and gas infrastructure giant with a pipeline network spanning over 50,000 miles. Shares of Magellan Midstream Partners LP ( NYSE: MMP) opened 15% up on Monday after Oneok Inc ( NYSE: OKE) said it will buy the petroleum products distributor for $18.8 billion.
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