Despite recent gains, ONEOK still warrants a marginal 'buy' rating due to expected synergies and significant cash flows from recent acquisitions. Read more here.

The deal is subject to the approval of a majority of the outstanding EnLink common units and other customary closing conditions.

ONEOK Inc., a US-based pipeline operator, announced Sunday it will acquire the remaining shares of EnLink Midstream in a $4.3 billion all-stock deal. The move aims to strengthen ONEOK’s position in the Permian Basin and capitalize on the ongoing consolidation in the U.S. energy sector.

US pipeline operator Oneok Inc. will acquire the common units of EnLink Midstream LLC it doesn’t own for $4.3 billion, according to a statement.

EnLink Midstream previously bought Houston-based Crestwood Equity Partners LP’s Barnett Shale assets for $275 million. Crestwood was later acquired by Dallas-based Energy Transfer LP (NYSE: ET) for $7.1 billion.

Oneok shares will be used to acquire all of the outstanding publicly held units of EnLink Midstream for $4.3 billion.

US pipeline operator Oneok Inc. will buy the rest of EnLink Midstream LLC for $4.3 billion in common stock, the companies said in a joint statement. Most Read from BloombergNYC's Underground Steam System May Be Key to a Greener FutureIn Kansas City,

Investing.com-- ONEOK Inc (NYSE:OKE) said it will buy the remainder of EnLink Midstream LLC (NYSE:ENLC) shares it does not hold in an all-stock deal, as the pipeline operator looks to boost its position in the Permian and Mid-Continent basins.

ONEOK, Inc. OKE announced that it has signed a definitive merger agreement, under which it will acquire all of the outstanding publicly held common units of EnLink Midstream ENLC for $4.3 billion in ONEOK common stock.