ONEOK shareholders to receive proxy ballot for $19 billion Magellan Midstream merger


ONEOK took another step in preparing for a shareholders vote in September regarding the company’s nearly $19 billion merger with Tulsa-based Magellan Midstream.

The firm filed a proxy voting ballot with the Securities and Exchange Commission, one urging shareholders to approve the merger. The SEC filing is a copy of the proxy being sent to shasreholders.

Voting will occur September 21 and the proxy urged approval.

“We’re bringing together two premiere energy infrastructure businesses with immediate financial benefits, strong returns on invested capital and diverse free cash flow generation,” declared the proxy.

The board of directors of ONEOK unanimously recommends shareholders vote “for” all proposals related to the transaction on the enclosed proxy card , ahead of the Special Meeting on September 21, 2023.