Levi & Korsinsky is investigating possible claims against Buckeye GP Holdings L.P. (“BGH” or the “Company”) (NYSE: BGH) concerning possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Buckeye Partners, L.P. (“BPL”). Under the terms of the transaction, BGH unitholders will receive 0.705 BPL limited partnership units in exchange for each BGH limited partnership unit they own. Based on the prior closing price of BPL units, the transaction values BGH units at approximately $41.01 each for a total transaction value of approximately $1.14 billion. Affiliates of ArcLight Capital Partners, LLC and Kelso & Company, which control approximately 62% of BGH’s limited partnership units, have committed to vote in favor of the merger, subject to limited exceptions.
The investigation concerns whether the BGH Board of Directors breached their fiduciary duties to BGH stockholders by failing to adequately shop the Company before entering into this transaction and whether BPL is underpaying for BGH units, thus unlawfully harming BGH unitholders.
If you own common stock in BGH and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500 or visit
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.