Energy Transfer has entered into a definitive agreement to acquire Enable Midstream with each Enable common unitholder receiving 0.8595 units in Energy Transfer. Enable Series A preferred units will receive 0.0265 Series G preferred units in Energy Transfer, and Enable's general partner will receive a $10 million cash payment. The combined company is expected to generate $100 million in annual cost savings. CenterPoint and OGE Energy have agree to vote in favor of the transaction which is expected to close in the middle of 2021. Citi and RBC advised Energy Transfer while Goldman Sachs advised Enable.