ONEOK Announces Agreement To Acquire Magellan Midstream Partners

A multi-billion dollar merger agreement between two energy infrastructure businesses was announced on Sunday.

ONEOK, Inc. said it will acquire Magellan Midstream Partners in a transaction valued at $18.8 billion.

"The combined company will continue both companies’ long-standing commitments to financial excellence, safety, stewardship, community investments and delivering vital energy products to a transforming world," said ONEOK in an announcement post on Facebook.