Aug 28 (Reuters) - ONEOK Inc ( OKE ):

* ONEOK TO ACQUIRE MEDALLION AND CONTROLLING INTEREST IN

ENLINK

FROM GLOBAL INFRASTRUCTURE PARTNERS IN TRANSACTIONS VALUED AT

$5.9 BILLION

* ONEOK INC ( OKE ) - DELIVERS IMMEDIATE ACCRETION TO EPS AND FCF

* ONEOK INC ( OKE ) - GIP'S COMMON UNITS IN ENLINK ARE BEING

PURCHASED FOR

A TOTAL VALUE OF $3.0 BILLION, OR $14.90 PER UNIT

* ONEOK INC ( OKE ) - AS A RESULT OF TRANSACTION WITH GIP, ENLINK

WILL BE

A CONSOLIDATED SUBSIDIARY OF ONEOK

* ONEOK ( OKE ) - GIP'S ENTIRE INTEREST IN ENLINK MIDSTREAM, LLC

CONSISTING OF 43% OF ENLINK'S OUTSTANDING COMMON UNITS FOR

$14.90 PER UNIT

* ONEOK INC ( OKE ) - TOTAL CASH CONSIDERATION OF APPROXIMATELY $3.3

BILLION

* ONEOK INC ( OKE ) - ACQUIRE FROM GIP ALL OF EQUITY INTERESTS IN

MEDALLION MIDSTREAM LLC FOR $2.6 BILLION

* ONEOK INC ( OKE ) - INTENDS TO PURSUE ACQUISITION OF PUBLICLY HELD

COMMON UNITS OF ENLINK IN A TAX-FREE TRANSACTION

* ONEOK INC ( OKE ) - BELIEVES THESE, AND OTHER CONTEMPLATED

ACTIVITIES

WILL RESULT IN ANNUAL SYNERGIES OF APPROXIMATELY $250 MILLION TO

$450 MILLION WITHIN THREE YEARS

* ONEOK ( OKE ) - OBTAINED FINANCING COMMITMENTS FROM JPMORGAN CHASE

BANK,

N.A. & GOLDMAN SACHS BANK USA TO PROVIDE UP TO $6.0 BILLION TO

FUND AGGREGATE CASH CONSIDERATION

* ONEOK INC ( OKE ) - OBTAINED FINANCING COMMITMENTS FROM JPMORGAN

CHASE

BANK AND GOLDMAN SACHS BANK USA TO PROVIDE UP TO $6.0 BILLION TO

FUND TRANSACTION

* ONEOK INC ( OKE ) - UPON CLOSING OF ENLINK TRANSACTION, ONEOK WILL

HAVE

CONTROL OF ENLINK'S MANAGING MEMBER

* ONEOK INC ( OKE ) - UPON CLOSING OF ENLINK TRANSACTION, CO INTENDS

TO

REPLACE BOARD MEMBERS CURRENTLY DESIGNATED BY GIP WITH NEW BOARD

MEMBERS DESIGNATED BY ONEOK

* ONEOK ( OKE ) - $300 MILLION OF THE TOTAL $3.3 BILLION PURCHASE

PRICE

FOR THE ENLINK INTERESTS IS FOR GIP'S 100% INTEREST IN THE

MANAGING MEMBER OF ENLINK

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