What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to disclose that two major proxy advisory firms, ISS and Glass Lewis, have recommended ONEOK shareholders vote in favor of the proposals related to the pending acquisition of Magellan Midstream Partners, L.P.

Why are the recommendations from ISS and Glass Lewis important?

The recommendations from ISS and Glass Lewis are important because these firms provide independent advice to institutional investors on how to vote their shares. Their positive recommendation suggests that the proposed acquisition of Magellan Midstream Partners is viewed favorably by these influential advisory bodies, potentially swaying shareholder votes in favor of the deal.

What action should ONEOK shareholders take?

ONEOK shareholders should pay attention to the upcoming Special Meeting of Shareholders where the Magellan acquisition proposals will be voted on. Given the positive recommendations from proxy advisory firms, shareholders may consider voting in favor of these proposals, but should always conduct their own due diligence.

Where can I find more information about the Magellan acquisition?

More information about the Magellan acquisition and related materials, including the news release detailing the proxy advisor recommendations, can be found on ONEOK's investor relations website (www.oneok.com).

OKE 8-K: Regulation FD — Sep 11, 2023

Summary

ONEOK, Inc. (OKE) filed an 8-K report on September 10, 2023, primarily related to the upcoming special meeting of shareholders concerning its pending acquisition of Magellan Midstream Partners, L.P. The key takeaway for investors is that two prominent proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have recommended that ONEOK shareholders vote in favor of all proposals associated with this acquisition. This endorsement from influential advisory firms is a significant positive signal for the proposed transaction. It suggests that the rationale and terms of the Magellan acquisition are viewed favorably by these independent bodies, potentially increasing the likelihood of shareholder approval. Investors should monitor the outcome of the special meeting and any further developments regarding the integration of Magellan Midstream Partners.

Key Highlights

1ONEOK Inc. announced that proxy advisory firms ISS and Glass Lewis have recommended shareholders vote FOR proposals related to the Magellan Midstream Partners acquisition.
2This recommendation from leading proxy advisory firms is a positive indicator for the success of the Magellan acquisition.
3The filing pertains to a Special Meeting of Shareholders where the Magellan acquisition will be voted upon.
4The news release detailing this recommendation was issued on September 7, 2023.
5Investor materials are available on ONEOK's official website.

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Sep 11, 2023)

Summary

Key Highlights

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