US midstream ONEOK to acquire Magellan Midstream Partners in $18.8 bil deal

US midstream operator ONEOK will acquire pipeline operator Magellan Midstream Partners in an $18.8 billion cash-and-stock deal, ONEOK said late May 14, forming one of the biggest oil and gas infrastructure companies in North America. Magellan will be merged into a newly created 100% wholly-owned subsidiary of ONEOK, with an enterprise value of $60 billion and a 25,000-mile network of…