Oneok magellan vote

Securities and Exchange Commission.

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.

Oneok magellan vote

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. Asked in an interview earlier this year how the combined company, if approved, would affect the average Magellan employee, Milford said:. My expectation is that most of jobs we have right here in Tulsa will remain right here in Tulsa. Users can customize the app so you see the stories most important to you. You can also sign up for personalized notifications so you don't miss any important news. If you're on your phone, download it here now: Apple Store or Google Play. Episode A recent study looked at what the best places to live in America have in common. It found that people seem to thrive when inequality is low; when landownership is widespread; when social connection is high; and when corruption and violence are rare.

Credit: Belish via Shutterstock. Milford has said his role in the combined company has not yet been determined.

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 Five of the 34 natural gas-producing states account for

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. Compelling long-term value proposition driven by consistent and disciplined capital allocation philosophy. Complementary and diversified asset positions with potential for additional cost and commercial synergies over time. Strong investment-grade credit ratings with enhanced scale and diversification. The combination of ONEOK and Magellan will create a diversified North American midstream infrastructure company with predominately fee-based earnings, a strong balance sheet and significant financial flexibility focused on delivering essential energy products and services to our customers and continued strong returns to investors," said Pierce H. We are excited about the future of our combined companies and look forward to welcoming Magellan's well-respected employees to ONEOK," added Norton. We believe ONEOK shares these priorities, and we are pleased to join them in creating a stronger, more diversified midstream company," said Aaron Milford, Magellan president and chief executive officer.

Oneok magellan vote

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. As part of the registration process, investors will need to enter the control number found on their proxy card, voting information form or notice previously received. Those holding their shares through an intermediary, such as a bank, broker, or nominee, who want to participate should request a control number from their intermediary in advance of the meeting, ONEOK said. Magellan unitholders may attend, vote and submit questions virtually at the Magellan meeting by logging in at meetnow. To log in, Magellan unitholders or their authorized representatives will need the control number provided on their proxy card, voting instruction form or notice.

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I would also like to subscribe to:. TSA unveils passenger self-screening lanes at Las Vegas airport. Sign in here. Norton will continue to serve as CEO of the combined company. Michael Dekker. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. We are confident about the unique quality of our Company Profiles. Get up-to-the-minute news sent straight to your device. The new store will be home to more than a million products from hunting gear to home decor. ONEOK is a leading midstream energy services provider with an approximately 40,mile network of natural gas liquids and natural gas pipelines. Your download email will arrive shortly. Host Richard Kyte and Scott Rada talk about which steps can be taken to boost the social connectivity of our cities and towns, and why rural areas often face the biggest challenges. Please sign in or register for free. Premium Insights The gold standard of business intelligence. In , US natural gas production was around

Following shareholder approvals, the deal is expected to close before markets open on Monday, Sept.

I consent to Verdict Media Limited collecting my details provided via this form in accordance with Privacy Policy. Please sign in or register for free. It found that people seem to thrive when inequality is low; when landownership is widespread; when social connection is high; and when corruption and violence are rare. Terms of Service Privacy Policy. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. Already a Subscriber? Download it today. Thank you for subscribing View all newsletters from across the GlobalData Media network. Already a member? The project would be the first major buildout of the Fair Oaks Industrial Park. Watch Now: Related Video. Gas pipeline in North America. View all newsletters from across the GlobalData Media network. Premium Insights The gold standard of business intelligence. Sign in.