Law Offices of Howard G. Smith announces that it is investigating potential claims against the general partner of Buckeye GP Holdings L.P. (“BGH” or the “Company”) (NYSE:BGH) related to the Company’s agreement to be acquired by Buckeye Partners L.P. (“Buckeye Partners”).
Under the terms of the definitive merger agreement entered into by the parties, BGH unit holders would receive 0.705 units of Buckeye Partners in exchange for each BGH partnership unit. The merger would result in Buckeye Partners owning its general partner and also result in the cancellation of BGH’s incentive distribution rights. BGH GP Holdings, LLC, which owns approximately 62% of BGH’s units, has entered into a voting agreement to vote its 62% stake in favor of the merger. BGH GP Holdings, LLC is owned by ArcLight Capital Partners LLC, Kelso & Company and certain investments funds along with certain board members and senior management of BGH. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by the general partner and members of the board of directors of BGH.
If you own shares of BGH, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
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