8-KOther EventsExhibits & Filings

ONEOK INC /NEW/ 8-K Report, Corporate Update (Jun 23, 2017)

Filed June 23, 2017For Securities:OKE

Summary

This 8-K filing from ONEOK Inc. on June 23, 2017, primarily serves to announce that two prominent independent proxy advisory firms, Institutional Shareholder Services Inc. and Glass, Lewis & Co., have recommended in favor of the proposed merger between ONEOK and ONEOK Partners, L.P. This endorsement from key advisory groups is a positive development for the transaction, signaling potential support from institutional investors ahead of the special meetings scheduled for June 30, 2017. Investors should note that these recommendations represent a crucial step towards securing the necessary shareholder and unitholder approvals for the merger to proceed. The filing also reiterates the significant risks and uncertainties associated with the merger, as detailed in the incorporated press release and previously filed documents. These risks encompass a wide range of factors including regulatory approvals, potential delays, realization of synergies, integration challenges, and broader market and economic conditions. Investors are strongly advised to review the definitive joint proxy statement/prospectus filed on Form S-4, which contains comprehensive information about the transaction and its associated risks.

Key Highlights

  • 1ONEOK and ONEOK Partners have received favorable recommendations from Institutional Shareholder Services Inc. and Glass, Lewis & Co. for their proposed merger transaction.
  • 2The special meetings for ONEOK shareholders and ONEOK Partners unitholders to vote on the merger are scheduled for June 30, 2017.
  • 3The filing incorporates a joint press release detailing the merger, which includes a comprehensive list of risk factors.
  • 4Investors are urged to read the definitive joint proxy statement/prospectus filed on Form S-4 for important information regarding the transaction.
  • 5The company reiterates the numerous risks and uncertainties that could impact the consummation and success of the merger.
  • 6The recommendations from proxy advisory firms are a key step in obtaining the necessary approvals for the transaction.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce that two major independent proxy advisory firms, Institutional Shareholder Services Inc. and Glass, Lewis & Co., have recommended that ONEOK shareholders and ONEOK Partners unitholders vote in favor of the proposed merger between the two companies.

The special meetings for ONEOK shareholders and ONEOK Partners unitholders to vote on the proposed merger are scheduled to be held on June 30, 2017.

Investors are strongly encouraged to read the definitive joint proxy statement/prospectus filed on Form S-4, which was declared effective by the SEC on May 11, 2017, and mailed to stockholders and unitholders around May 25, 2017. Copies of these documents can be obtained free of charge from the SEC's website (www.sec.gov) or from ONEOK's and ONEOK Partners' investor relations websites.

The filing highlights a broad range of risks, including obtaining requisite shareholder/unitholder approvals, securing governmental and regulatory approvals, potential delays in closing the transaction, the realization of expected cost savings and synergies, potential disruption to business relationships, and the impact of litigation, weather, competition, and changes in government policies and economic conditions.