Holders of EnLink units voted in favor of ONEOK’s $4.3 billion acquisition of the stock, ONEOK announced Jan. 30.
According to a press release, 82.9% of EnLink’s common unit holders, representing 379.1 million units, voted. Of the votes, 99.8% of voters were in favor of the transaction in ONEOK’s preliminary results.
Each outstanding EnLink unit not currently owned by ONEOK will be converted into 0.1412 shares of ONEOK common stock.
ONEOK’s acquisition of EnLink was announced in August. ONEOK purchased a controlling interest in the midstream company in a $3.3 billion deal. In November, ONEOK published its intention to purchase the remaining units of EnLink’s common stock.
ONEOK expects the acquisition to close Jan. 31 with EnLink common units to cease trading on the New York Stock Exchange the same day.
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