Simpson Thacher Represents JPMorgan as Financial Advisor to ONEOK in the Announced Acquisition of the Remaining Public Stake of ONEOK Partners
02.09.17
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Simpson Thacher is representing J.P. Morgan Securities LLC as financial advisor to ONEOK, Inc. (NYSE: OKE) in connection with its definitive agreement to acquire the outstanding common units of ONEOK Partners, L.P. (NYSE: OKS) that it does not already own in exchange for $9.3 billion in ONEOK common stock. Completion of the transaction is expected to occur in the second quarter of 2017.
ONEOK is the general partner and as of December 31, 2016, owned 41.2% of ONEOK Partners, one of the largest publicly traded master limited partnerships. ONEOK Partners owns natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent, Permian and Rocky Mountain regions with key market centers and is a leader in the gathering, processing, storage and transportation of natural gas in the U.S.
The Simpson Thacher team includes Christopher May, Stephen Wiseman and Tyler Cox (M&A).