Magellan Midstream Partners

ONEOK Announces Board of Directors Changes

Retrieved on: 
Monday, September 25, 2023
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TULSA, Okla., Sept. 25, 2023 /PRNewswire/ -- The board of directors of ONEOK, Inc. (NYSE: OKE) elected Lori A. Gobillot and Wayne T. Smith as directors to the board, effective September 25, 2023.

Key Points: 
  • TULSA, Okla., Sept. 25, 2023 /PRNewswire/ -- The board of directors of ONEOK, Inc. (NYSE: OKE) elected Lori A. Gobillot and Wayne T. Smith as directors to the board, effective September 25, 2023.
  • Gobillot, 62, will join the ONEOK board from the Magellan Midstream Partners board of directors where she has served as an independent director since 2016.
  • Gobillot currently serves on the board of directors of Republic Airways Holdings, Inc., since 2017, where she is chair of the compensation committee.
  • "ONEOK's Board is pleased to welcome both Lori and Wayne," said Julie H. Edwards, ONEOK board chair.

Enterprise and Magellan’s Terminal Transfer Fee Waiver for ICE Midland WTI (HOU) Extended Through 2024 as HOU Trades at Record Levels During August

Retrieved on: 
Wednesday, September 6, 2023
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The extension comes as HOU had another record trading month with a record 307,000 contracts traded during August, as well as reaching record average daily volume of 13,347 contracts.

Key Points: 
  • The extension comes as HOU had another record trading month with a record 307,000 contracts traded during August, as well as reaching record average daily volume of 13,347 contracts.
  • The contract reached a series of open interest records throughout August, which has continued into September with open interest at a record 81,000 contracts.
  • Open interest in HOU now goes out to December 2025 as customers choose HOU to manage their Midland WTI exposure.
  • Each month, the HOU futures contract delivers approximately 5 million barrels of Midland WTI quality crude.

EIP Launches a Website in its "Just Vote No" Campaign against the Merger between ONEOK, Inc and Magellan Midstream Partners, LP

Retrieved on: 
Tuesday, August 22, 2023
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WESTPORT, Conn., Aug. 22, 2023 /PRNewswire/ -- Energy Income Partners, LLC (EIP) the fourth largest shareholder in Magellan Midstream Partners, L.P. launches a website in its "Just Vote No" Campaign against the merger between ONEOK, Inc. (OKE) and Magellan Midstream Partners, L.P. (MMP).

Key Points: 
  • WESTPORT, Conn., Aug. 22, 2023 /PRNewswire/ -- Energy Income Partners, LLC (EIP) the fourth largest shareholder in Magellan Midstream Partners, L.P. launches a website in its "Just Vote No" Campaign against the merger between ONEOK, Inc. (OKE) and Magellan Midstream Partners, L.P. (MMP).
  • EIP remains steadfast in its stance against the proposed merger, primarily citing concerns about industrial logic and a failure to explore more strategic alternatives.
  • EIP observed, "This isn't a merger that will create a better company; it's trading the excellence of a top-tier company for a mediocre one.
  • Magellan also failed to outline alternative ways of structuring the transaction in a way that is more tax efficient for its unitholders. "

Magellan Midstream to Participate in VettaFi Virtual Investor Discussion

Retrieved on: 
Friday, August 11, 2023
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TULSA, Okla., Aug. 11, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that Aaron Milford, chief executive officer, is scheduled to participate in a question and answer session about Magellan and our pending merger with ONEOK, Inc. at 12:30 p.m. Eastern on Thursday, Aug. 17.

Key Points: 
  • TULSA, Okla., Aug. 11, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that Aaron Milford, chief executive officer, is scheduled to participate in a question and answer session about Magellan and our pending merger with ONEOK, Inc. at 12:30 p.m. Eastern on Thursday, Aug. 17.
  • The virtual session will be moderated by Stacey Morris of VettaFi, with a webcast available live on the day of the event on Magellan's website at www.magellanlp.com/investors/webcasts.aspx and a replay or transcript available later that day.
  • Magellan investors are encouraged to visit www.MaximizingValueforMMPunitholders.com for additional information about our pending merger, including transaction benefits, tax considerations and unitholder voting instructions.
  • VettaFi, a data, analytics and thought leadership company, engages millions of investors annually.

MAGELLAN MIDSTREAM INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Magellan Midstream Partners, L.P. - MMP

Retrieved on: 
Tuesday, July 25, 2023
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and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Magellan Midstream Partners, L.P. (NYSE: MMP) to ONEOK, Inc. (NYSE: OKE).

Key Points: 
  • and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Magellan Midstream Partners, L.P. (NYSE: MMP) to ONEOK, Inc. (NYSE: OKE).
  • Under the terms of the proposed transaction, shareholders of Magellan will receive $25.00 in cash and 0.6670 shares of ONEOK for each share of Magellan that they own.
  • KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
  • To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com .

Magellan Midstream to Announce Second-Quarter 2023 Financial Results on Aug. 3

Retrieved on: 
Thursday, June 29, 2023
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TULSA, Okla., June 29, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) plans to announce financial results for second quarter 2023 before the market opens on Thursday, Aug. 3.

Key Points: 
  • TULSA, Okla., June 29, 2023 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) plans to announce financial results for second quarter 2023 before the market opens on Thursday, Aug. 3.
  • Management will discuss second-quarter 2023 earnings and outlook for the remainder of the year during a conference call with analysts at 1:30 p.m. Eastern the same day.
  • Participants are encouraged to listen to the call via our website at www.magellanlp.com/investors/webcasts.aspx .
  • In addition, a limited number of phone lines will be available at (800) 954-0684, conference code 22027326.

IMPORTANT ALERT: Halper Sadeh LLC Investigates FRG, MMP, RTL, DM

Retrieved on: 
Sunday, June 25, 2023
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Magellan Midstream Partners, L.P. (NYSE: MMP)’s sale to ONEOK, Inc. for $25.00 in cash and 0.6670 shares of ONEOK stock per unit.

Key Points: 
  • Magellan Midstream Partners, L.P. (NYSE: MMP)’s sale to ONEOK, Inc. for $25.00 in cash and 0.6670 shares of ONEOK stock per unit.
  • If you are a Magellan shareholder, click here to learn more about your rights and options .
  • Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected] .
  • Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.

MAGELLAN ALERT: Bragar Eagel & Squire, P.C. Investigates Merger of MMP and Encourages Investors to Contact the Firm

Retrieved on: 
Sunday, June 25, 2023
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On May 14, 2023, Magellan announced that it had entered into an agreement to be acquired by ONEOK in a $18.8 billion cash and stock deal.

Key Points: 
  • On May 14, 2023, Magellan announced that it had entered into an agreement to be acquired by ONEOK in a $18.8 billion cash and stock deal.
  • Pursuant to the merger agreement, each Magellan unitholder will receive $25.00 in cash and 0.6670 shares of ONEOK stock per unit.
  • Bragar Eagel & Squire is concerned that Magellan's board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.
  • Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Magellan's stockholders.

ONEOK Announces Retirement of Stephen B. Allen, Senior Vice President, General Counsel and Assistant Secretary

Retrieved on: 
Monday, May 22, 2023
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TULSA, Okla., May 22, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that Stephen B. Allen, senior vice president, general counsel and assistant secretary will retire in mid-August 2023 after more than 17 years with the company.

Key Points: 
  • TULSA, Okla., May 22, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced that Stephen B. Allen, senior vice president, general counsel and assistant secretary will retire in mid-August 2023 after more than 17 years with the company.
  • Allen is leaving ONEOK to join Dallas-based GuideStone, a leading faith-based financial services organization.
  • Norton added, "Having known Stephen for almost 20 years, his decision to retire and dedicate himself to work for a ministry organization does not surprise me.
  • "It was an honor and privilege to work for ONEOK for all these years.

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates CVT, OKE, WISA

Retrieved on: 
Sunday, May 21, 2023
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If you are a Cvent shareholder, click here to learn more about your rights and options .

Key Points: 
  • If you are a Cvent shareholder, click here to learn more about your rights and options .
  • If you are a WiSA shareholder, click here to learn more about your rights and options .
  • Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email [email protected] or [email protected] .
  • Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct.