Mario Gabelli’s GAMCO recently unveiled a shareholder proposal that it sent to National Fuel Gas’ (NFG) management for consideration at its 2015 Annual Meeting. The firm wants NFG to hire an investment bank to explore the spinoff of its utility business, leaving the remaining parent company more focused on its E&P and pipeline units. The rationale is that a… Read More »
For some reason, spins tend to cluster around the end of the month, and January 31st witnessed some impressive action with the completion of two separate transactions. First off, ONEOK (OKE) completed the spinoff of its natural gas distribution business ONE Gas (OGS). The new company is trading under the ticker ‘OGS’ and shareholders of ONEOK should have… Read More »
S&P announced yesterday that upcoming Oneok (OKE) spinoff ONE Gas will be joining the S&P Midcap 400 after the spin is completed this Friday (January 31st). The new company will be one of the largest natural gas utilities in the US and consist of the Kansas Gas Service, Oklahoma Natural Gas Company and the Texas Gas Service. ONE Gas will be giving… Read More »
After obtaining the necessary approvals from numerous regulatory bodies, including most recently the Kansas Commission, ONEOK’s (OKE) board of directors officially approved the spinoff of its natural gas distribution business, One Gas. The new company will be one of the largest natural gas utilities in the US and consist of the Kansas Gas Service, Oklahoma Natural Gas Company and Texas Gas Service.… Read More »
Who says you can’t teach old dogs new tricks? 107 year old ONEOK (OKE), founded as the Oklahoma Natural Gas Company way back in 1906, recently announced that its board of directors had approved the spinoff of its natural gas distribution business. The new company will be known as ONE Gas and will be ‘the only publicly traded,… Read More »