ONEOK, Inc. and EnLink Midstream, LLC announced that EnLink unitholders approved ONEOK’s previously announced $4.3 billion acquisition and of the remaining publicly held common units of EnLink.
According to preliminary results of the EnLink Special Meeting of Unitholders, approximately 99.8% of the common units voted, or 379.1 million units, were cast in favor of the transaction, resulting in 82.9% of outstanding units voting in favor. EnLink will disclose the final vote results of its Special Meeting on a Form 8-K filed with the U.S. Securities and Exchange Commission.
The acquisition is expected to close Friday, Jan. 31, 2025. EnLink common units are expected to cease trading on the New York Stock Exchange prior to market open on Jan. 31. As previously announced, upon completion of the acquisition, each outstanding common unit of EnLink not owned by ONEOK will be converted into 0.1412 shares of ONEOK common stock.
Source: press release