Oneok magellan vote

Securities and Exchange Commission.

Pierce H. Final, formal closure of the transaction is expected early next week after legal and other reviews of details, officials from both companies told the Tulsa World. ONEOK is a leading midstream energy services provider with an approximately 40,mile network of natural gas liquids and natural gas pipelines. The combined company will own thousands of miles of liquids-oriented pipelines, with significant assets and operational expertise at the Gulf Coast and Midcontinent market hubs, ONEOK said. Norton will continue to serve as CEO of the combined company. Specific results of that vote also were not announced, nor was the amount executives would have benefited. Fifth St.

Oneok magellan vote

For full functionality of this site it is necessary to enable JavaScript. Here are the instructions how to enable JavaScript in your web browser. Yet, unitholders did vote against executive officers related to the deal being paid compensation. Magellan, in its proxy, cautions that the merger is not conditioned on the compensation vote and that if the acquisition is approved, the executive compensation is payable. Additionally, the company's current Chief Commercial Officer and general council will receive multi-million-dollar packages. Magellan, however, stated that when considering future executive pay, it expects ONEOK to acknowledge the outcome of the compensation vote, along with other factors. The September issue of World Pipelines includes a keynote feature on automation technology for pipelines, and technical articles on deepwater pipeline engineering, hydrogen pipelines, launching and receiving pigs, PLUS a special section on North American pipelines. Steve Biagiotti, Jr. Yoho, P. US pipeline news Acquisitions and mergers. This content is available to registered readers of our magazine only. Please sign in or register for free. You might also like.

The project would be the first major buildout of the Fair Oaks Industrial Park.

In June, one of the top stakeholders in Magellan, Energy Income Partners, scrutinised the deal due to its difficult tax structure. Nevertheless, the unit-holders voted against compensation to be paid to top executives related to the deal. Find out more. The merger is not conditioned on the compensation vote and if the acquisition is approved then the compensation is therefore payable. In , US natural gas production was around

The results of the Magellan vote will be disclosed after its meeting, the company said. The buyout, one of the largest private transactions in state history, has been approved unanimously by the boards of directors of both Tulsa-based companies. As of February, Magellan had ,, common units outstanding that were owned by about , record and beneficial owners, the company said. ONEOK has more than 1, institutional owners and shareholders that have filed forms with the Securities and Exchange Commission, with at least ,, shares. Magellan, first established as Williams Energy Partners in , is a publicly traded company that primarily transports, stores and distributes refined petroleum products and crude oil. Those who are investors as of July 24 will be able to vote in their respective virtual meetings, both companies said.

Oneok magellan vote

The materials outline the tax implications Magellan considered before determining to approve the transaction. Our board and leadership team are confident the transaction delivers greater value to Magellan unitholders than could be achieved by continuing to execute the partnership's standalone plan, including after considering taxes. The special meeting of Magellan unitholders to vote to approve the transaction will be held virtually on Sept. Magellan unitholders of record at the close of business on July 24, are entitled to vote their units at or in advance of the special meeting. The mailing along with more information and instructions on how to vote are available at MaximizingValueforMMPunitholders. Magellan Midstream Partners, L. NYSE: MMP is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. More information is available at www. This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of , as amended, and Section 21E of the Securities Exchange Act of , as amended. All statements, other than statements of historical fact, included in this communication that address activities, events or developments that ONEOK or Magellan expects, believes or anticipates will or may occur in the future are forward-looking statements.

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Already a member? Magellan, in its proxy, cautions that the merger is not conditioned on the compensation vote and that if the acquisition is approved, the executive compensation is payable. Find out more. Children in Gaza are dying of malnutrition. In , US natural gas production was around Download it today. Already a Subscriber? Subscriber Login. You can also sign up for personalized notifications so you don't miss any important news. You can cancel at any time. Milford has said his role in the combined company has not yet been determined. Here are the instructions how to enable JavaScript in your web browser. Gas pipeline in North America. Read Today's E-edition.

Brings together two premier energy infrastructure businesses with strong returns on invested capital and diverse free cash flow generation. Expect to achieve immediate financial benefits, including cost, operational and tax synergies, supporting meaningful expected accretion.

In June, one of the top stakeholders in Magellan, Energy Income Partners, scrutinised the deal due to its difficult tax structure. Sign in. Get up-to-the-minute news sent straight to your device. For full functionality of this site it is necessary to enable JavaScript. The combined company will own thousands of miles of liquids-oriented pipelines, with significant assets and operational expertise at the Gulf Coast and Midcontinent market hubs, ONEOK said. Fifth St. Please subscribe to keep reading. Your download email will arrive shortly. Please log in to use this feature Log In. Mike Simons, Tulsa World file. Norton will continue to serve as CEO of the combined company.