ONEOK Completes Acquisition of Controlling Interest in EnLink Midstream for $3.3 Billion

OKE
September 20, 2025
ONEOK, Inc. announced on October 15, 2024, the successful completion of its acquisition of Global Infrastructure Partners' (GIP) entire interest in EnLink Midstream, LLC. The transaction involved a total cash consideration of approximately $3.3 billion. This acquisition included 43% of EnLink's outstanding common units, priced at $14.90 per unit, and 100% of the interests in EnLink's managing member for $300 million. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 had expired, allowing the transaction to close. With this closing, ONEOK gained control of EnLink's managing member, expanding its integrated assets in key production basins, including the Permian Basin, and establishing a new strategic asset position in Louisiana. ONEOK also stated its intention to pursue the acquisition of the remaining publicly held common units of EnLink in a tax-free transaction. The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.