TULSA, Okla., Sept. 7, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE:OKE) today announced that the two leading proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co. (Glass Lewis), have recommended that ONEOK shareholders vote in favor of all proposals related to ONEOK's pending acquisition of Magellan Midstream Partners, L.P. (NYSE:MMP) (Magellan) at ONEOK's upcoming Special Meeting of Shareholders.
In making the recommendations, ISS and Glass Lewis stated in their September 7, 2023, and September 6, 2023, reports, respectively1:
"On balance, given the expected financial strength of the combined company, including the benefits of the tax basis step-up, the expected EP