ONEOK, Magellan Midstream Partners Shareholders Approve Merger

(RTTNews) - ONEOK Inc. (OKE) and Magellan Midstream Partners L.P. (MMP) announced that, at their respective Special Meetings, ONEOK shareholders and Magellan unitholders approved the previously announced merger.

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.

In May, ONEOK said it agreed to acquire all outstanding units of Magellan Midstream Partners in a cash-and-stock transaction valued at about $18.8 billion including assumed debt.