ONEOK, Inc. (NYSE: OKE) and Magellan Midstream Partners, L.P. (NYSE: MMP) have officially announced the successful execution of a definitive merger agreement. In this agreement, ONEOK will acquire all outstanding units of Magellan through a cash-and-stock transaction. The merger consideration will consist of $25.00 in cash and 0.6670 shares of ONEOK common stock for each Magellan common unit. The total value of the transaction, which includes assumed debt, is approximately $18.8 billion. Upon the completion of the merger, the combined company will boast a total enterprise value of $60.0 billion.

On Friday, the stock of Magellan Midstream Partners ($MMP) closed at $55.41, reflecting a 0.98% increase (+$0.54).

Additionally, Aligos Therapeutics, Inc. (Nasdaq: ALGS) has recently entered into a significant research collaboration and development agreement with Xiamen Amoytop Biotech Co. Ltd. The primary objective of this collaboration is to leverage Aligos' oligonucleotide platform for the purpose of discovering, researching, and developing innovative oligonucleotides that target the treatment of liver diseases within the Greater China territory.

According to the terms of the agreement, Aligos will receive an upfront payment and research collaboration funding. Moreover, the company will be eligible to receive up to $109 million in payments for development and sales milestones achieved with licensed products. Additionally, Aligos will be entitled to tiered royalties on net sales resulting from the collaboration.

Following the announcement, Aligos Therapeutics' stock ($ALGS) experienced a remarkable surge in after-hours trading on Friday, reaching $1.52, reflecting an impressive increase of 39.45% (+$0.43).

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