Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Oneok (OKE) just unveiled an announcement.
ONEOK, Inc. has announced two significant acquisitions set to transform its market presence. With the purchase of around 43% of EnLink Midstream, LLC at $14.90 per unit and the entire managerial interest for $300 million, alongside acquiring Medallion Midstream’s general and limited partner interests for $2.43 billion, ONEOK is poised for substantial expansion. These strategic transactions, expected to close in the fourth quarter of 2024, are backed by a $6 billion term loan and hinge on regulatory approvals. This marks a bold move in the energy sector, with ONEOK bolstering its assets and capitalizing on growth opportunities.
For an in-depth examination of OKE stock, go to TipRanks’ Stock Analysis page.
