The facts block is sourced from a single SEC filing: a Form 425 filed with SEC EDGAR and published on May 15, 2023. The deal's current status is pending regulatory approval.
On the financial advisory side, multiple firms are named. Goldman Sachs & Co. LLC is serving as lead financial advisor to ONEOK, the acquirer, with Goldman Sachs Bank USA separately providing fully committed bridge financing; TPH&Co. (the energy business of Perella Weinberg Partners) and BofA Securities also advised ONEOK, without a lead designation. On the target side, Morgan Stanley & Co. LLC is serving as financial advisor to Magellan and is designated as lead advisor.
Legal counsel was also disclosed for both sides. Kirkland & Ellis LLP is serving as ONEOK's (the acquirer's) legal advisor. On the target side, both Latham & Watkins LLP and Richards, Layton & Finger, P.A. are acting as Magellan's legal advisors.
Beyond the cash-and-stock characterization of the consideration and the disclosed $18,800,000,000 deal value, the facts block does not specify the precise cash/stock split or exchange ratio applicable to Magellan unitholders.
Several facts are not disclosed in the source material. The facts block does not give the specific cash amount per unit or the stock exchange ratio that make up the cash-and-stock consideration, nor does it specify an expected closing date. It also does not detail the size of the bridge financing being provided by Goldman Sachs Bank USA.