Kirkland Represents ONEOK on Acquisition of Publicly Held Common Units in EnLink Midstream
Kirkland & Ellis advised ONEOK, Inc. (NYSE: OKE) on its definitive agreement with EnLink Midstream, LLC (NYSE: ENLC) to acquire all of the outstanding publicly held common units of EnLink for $4.3 billion in ONEOK common stock. Under the agreement, each outstanding common unit of EnLink that ONEOK does not already own will be converted into 0.1412 shares of ONEOK common stock. The exchange ratio was derived by dividing $15.75 per unit, equal to EnLink's market close price on Nov. 22, 2024, by ONEOK's 10-day volume-weighted average price (VWAP).
The Kirkland team included corporate lawyers Sean Wheeler, Debbie Yee and Camille Meissner; executive compensation lawyer Rob Fowler; tax lawyers David Wheat and Bill Dong; capital markets lawyer Julian Seiguer; and debt finance lawyer Rachael Lichman.
