{"id":58608,"date":"2023-09-08T14:49:29","date_gmt":"2023-09-08T18:49:29","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/glass-lewis-iss-back-magellan-midstreams-sale-to-oneok\/"},"modified":"2023-09-08T14:49:33","modified_gmt":"2023-09-08T18:49:33","slug":"glass-lewis-iss-back-magellan-midstreams-sale-to-oneok","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58608","title":{"rendered":"Glass Lewis, ISS back Magellan Midstream’s sale to ONEOK"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

(Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan Midstream (NYSE:) Partners’ unitholders to vote in favor of the pipeline operator’s $18.8 billion planned sale to ONEOK <\/span><\/span> (NYSE:).<\/p>\n

“We are inclined to take the view that the proposed merger would put the combined company in a better position, compared to Magellan on a standalone basis,” Glass Lewis said in a statement on Wednesday.<\/p>\n

Shares of Magellan Midstream rose 1.5% in early afternoon trading.<\/p>\n

Energy Income Partners, the fourth-largest unitholder in Magellan with a 3.1% stake, has said it intends to vote against the proposed deal, concerned about the loss of tax benefits.<\/p>\n

The voting on the deal is scheduled to take place on Sept. 21.<\/p>\n

Magellan is a master limited partnership (MLP), a publicly traded corporate structure that enjoys the benefits of paying no tax at the company level.<\/p>\n

Investors in MLPs, known as unitholders, are also shielded from ongoing taxes, but when either the units or the whole company are sold the accumulated taxes become due for payment.<\/p>\n

“The premium also stands out among recent precedent transactions in this sector, and appears to compensate most investors for the immediate tax hit,” ISS said in a report on Wednesday.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. (Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan Midstream (NYSE:) Partners’ unitholders to vote in favor of the pipeline operator’s $18.8 billion planned sale to ONEOK (NYSE:). “We are inclined to take the view that the proposed merger would put the combined company in […]<\/p>\n","protected":false},"author":1,"featured_media":5160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-58608","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nGlass Lewis, ISS back Magellan Midstream's sale to ONEOK | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. (Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=58608\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glass Lewis, ISS back Magellan Midstream's sale to ONEOK | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. (Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=58608\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-08T18:49:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-08T18:49:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0K08U_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=58608#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=58608\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Glass Lewis, ISS back Magellan Midstream’s sale to ONEOK\",\"datePublished\":\"2023-09-08T18:49:29+00:00\",\"dateModified\":\"2023-09-08T18:49:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=58608\"},\"wordCount\":220,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=58608#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=58608\",\"url\":\"https:\/\/ifintechworld.com\/?p=58608\",\"name\":\"Glass Lewis, ISS back Magellan Midstream's sale to ONEOK | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-08T18:49:29+00:00\",\"dateModified\":\"2023-09-08T18:49:33+00:00\",\"description\":\"\u00a9 Reuters. (Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=58608#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=58608\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=58608#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Glass Lewis, ISS back Magellan Midstream’s sale to ONEOK\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Glass Lewis, ISS back Magellan Midstream's sale to ONEOK | iFintechWorld","description":"\u00a9 Reuters. (Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=58608","og_locale":"en_US","og_type":"article","og_title":"Glass Lewis, ISS back Magellan Midstream's sale to ONEOK | iFintechWorld","og_description":"\u00a9 Reuters. (Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan","og_url":"https:\/\/ifintechworld.com\/?p=58608","og_site_name":"iFintechWorld","article_published_time":"2023-09-08T18:49:29+00:00","article_modified_time":"2023-09-08T18:49:33+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEC0K08U_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=58608#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=58608"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Glass Lewis, ISS back Magellan Midstream’s sale to ONEOK","datePublished":"2023-09-08T18:49:29+00:00","dateModified":"2023-09-08T18:49:33+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=58608"},"wordCount":220,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=58608#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=58608","url":"https:\/\/ifintechworld.com\/?p=58608","name":"Glass Lewis, ISS back Magellan Midstream's sale to ONEOK | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-08T18:49:29+00:00","dateModified":"2023-09-08T18:49:33+00:00","description":"\u00a9 Reuters. (Reuters) -Independent proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services (ISS) have recommended Magellan","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=58608#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=58608"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=58608#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Glass Lewis, ISS back Magellan Midstream’s sale to ONEOK"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/58608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58608"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/58608\/revisions"}],"predecessor-version":[{"id":58609,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/58608\/revisions\/58609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/5160"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}