ONEOK (OKE) Shareholders and Magellan (MMP) Unitholders Approve Merger
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ONEOK, Inc. (NYSE: OKE) ("ONEOK") and Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan") today announced that, at their respective Special Meetings, ONEOK shareholders and Magellan unitholders approved the previously announced merger.
"We are very pleased with the strong support from ONEOK shareholders and Magellan unitholders, which reflects their belief in the power of our combination," said Pierce H. Norton II, ONEOK president and chief executive officer. "Having achieved this important milestone, we look forward to closing on
"We appreciate that investors recognize the combination with ONEOK captures full value for Magellan unitholders and are grateful for their constructive engagement over the past few months," said
According to preliminary results of the ONEOK Special Meeting of Shareholders, approximately 96% of the common shares voted were in favor of the transaction.
According to preliminary results of the Magellan Special Meeting of Unitholders, approximately 76% of the common units voted, or 111.2 million units, were cast in favor of the merger, resulting in 55% of outstanding units voting in favor.
ONEOK and Magellan will each disclose the final vote results of their respective Special Meetings on Form 8-Ks filed with the U.S. Securities and Exchange Commission. The merger remains subject to satisfaction of other customary closing conditions and is anticipated to close before market on
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