ONEOK announced a $4.425 billion acquisition of Brazos Midstream's Permian Midland Basin natural gas assets, funded by a $9 billion minority equity investment from Apollo funds. The deal includes using $5 billion of the investment to reduce ONEOK's debt, lowering leverage to 3.25x debt-to-EBITDA without issuing new equity. This acquisition expands ONEOK's scale in a key growth region, is immediately accretive to earnings and cash flow, and supports potential dividend increases and share buybacks. The transaction is expected to close in late 2026, pending regulatory approval.
Apollo Global Management reported record fee-related earnings of $785 million in Q2, a 25% increase year-over-year, with fee margins expanding to 58.5%. The company saw strong 34% growth in fee-generating assets under management and achieved a record...
Nvidia's AI chip sales hit record revenue, but the company is increasingly financing AI infrastructure, extending payment terms and committing nearly $100 billion in equity investments. This dual role supports smaller AI players but creates cash flow...
