Magellan Midstream CEO Wants Holders to Vote in Favor of Oneok Deal
09.06.2023 By Tank Terminals - NEWS

September 6, 2023 [Market Screener]- On September 5, 2023, Magellan Midstream Partners’ Chief Executive Aaron Milford announced that he is urging unitholders to vote in favor of the Company’s $18.8 billion cash and stock sale to Oneok Inc. as a crucial vote approach later September month.


Milford said in the interview that the most influential proxy advisers, ISS and Glass Lewis, are expected to give their recommendations to MMP shareholders as soon as this week. Milford, who said he began the process over a potential deal in September of last year, seemed to suggest that there wouldn’t be any last-minute changes or an attempt to somehow make it tax-free to try to get the deal over the finish line.

In addition, Milford expressed that this is the one that maximizes the value for the unit holders, so they’re very comfortable with the process and believe that they’ve ended up with the right deal for the Company unit holders right now.


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