Sept 21 (Reuters) - Magellan Midstream Partners' MMP.N unitholders on Thursday voted in favor of the U.S. pipeline operator's planned sale to larger peer ONEOK OKE.N for $18.8 billion.
The oil and gas pipeline business has seen increased consolidation this year as U.S. production grows and -pipeline permitting problems have made existing operators more valuable.
Here are the major deals in the U.S. pipeline sector in 2023:
Target |
Acquirer |
Deal type |
Deal value (in USD) |
Blackstone BX.N |
Targa Resources TRGP.N |
Asset Acquisition |
$1.05 billion |
Lotus Midstream |
Energy Transfer ET.N |
M&A |
$1.45 billion |
Magellan Midstream Partners MMP.N |
ONEOK OKE.N |
M&A |
$18.8 billion |
Holly Energy Partners HEP.N |
HF Sinclair DINO.N |
M&A |
$1.44 billion |
Crestwood Equity Partners CEQP.N |
Energy Transfer ET.N |
M&A |
$7.1 billion |
Meritage Midstream Services II |
Western Midstream Partners WES.N |
M&A |
$885 million |
(Compiled by Sourasis Bose in Bengaluru; Edited by Shounak Dasgupta)