Filed by Magellan Midstream Partners, L.P.
pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: Magellan Midstream Partners, L.P.
Filers SEC File No.: 001-16335
This filing relates to the proposed transaction between Magellan Midstream Partners, L.P., a Delaware limited partnership (Magellan), and
ONEOK, Inc., an Oklahoma corporation (ONEOK), pursuant to that certain Agreement and Plan of Merger, dated May 14, 2023, by and among ONEOK, Magellan and Otter Merger Sub, LLC, a Delaware limited liability company and a newly
formed, wholly owned subsidiary of ONEOK (Merger Sub).
[The following was first distributed on June 13, 2023.]
From: |
Aaron Milford (Magellan CEO) and Pierce Norton (ONEOK CEO) |
Re: |
Message from Pierce Norton and Aaron Milford: Forming an Integration Management Office
|
ONEOK and Magellan Teams:
It has been a
fast paced few weeks since we announced our merger. Our teams have been hard at work as we officially kickoff our integration planning to bring ONEOK and Magellan together. We are pleased to announce the formation of a joint Integration Management
Office (IMO) to lead our integration planning process.
The IMO, which we will oversee, is the governing body that will develop a management integration
plan and coordinate the integration planning process. The IMO will be led by Kevin Burdick, ONEOKs Chief Commercial Officer, and Jeff Holman, Magellans Chief Financial Officer and Treasurer. Jeff and Kevin are industry and
ONEOK/Magellan veterans with in-depth knowledge of the overall inner workings of the respective companies. Together, they will provide the leadership to plan for the integration of two great companies into
ONE. The IMO will also have the benefit of additional resources and planning tools provided by an experienced KPMG integration planning team.
We
invite you to review the IMO leadership and functional team chart. This document is available on our respective intranet sites: (ONEOK and Magellan).
Over the coming months, the integration planning team will meet regularly to map the processes on how best to combine our great organizations. Those employees
who came before us are the reason that we are presented with the opportunities of today. By focusing on the two companies COMBINED as ONE, we are honoring the legacies and rich histories of both Magellan and ONEOK. We will build on all that we have
accomplished to create a larger, more diversified company with a shared commitment to safety and stakeholder value.
Our commitment to you remains the
same, to tell you as much as we can when we can. We encourage you to continue submitting questions to our dedicated inboxes at IntegrationQuestions@oneok.com (for ONEOK) and IntegrationQuestions@magellanlp.com (for Magellan), and to
check out our intranet pages for additional resources.