ONEOK Officially Acquires Magellan Midstream Partners In $18 Billion Deal

The two companies combined will have around 50,000 miles of combined pipeline in the United States. The boards for both ONEOK and Magellan approved the deal earlier this year.

Tuesday, September 26th 2023, 4:56 am

By: News On 6


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ONEOK announced that it has now officially completed the acquisition of Magellan Midstream Partners, in a deal worth more than $18 billion.

The two companies combined will have around 50,000 miles of combined pipeline in the United States.

The boards for both ONEOK and Magellan approved the deal earlier this year.

Magellan will now no longer be publicly traded on the stock exchange, but ONEOK stock will.

ONEOK released a statement saying, "this is a significant day for Tulsa and the industry as we bring together the talented ONEOK and Magellan teams and look to the future as one company."

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