Updated from 2:24 p.m. EDT
Buckeye GP (BGH Quote), which operates oil and gas pipelines, surged 7% Wednesday after a group led by ArcLight Capital and Kelso & Co. agreed to buy the Pennsylvania-based company's general partner and the 63% BGP stake currently held by the Carlyle Group, Riverstone Holdings and "certain members of management and other limited partners."
Chief Executive William Shea will probably resign after the deal closes, to be replaced by current Pacific Energy Partners Vice Chairman Forrest Wylie. BGP shares gained $1.43 to $21.86. Buckeye Partners (BPL Quote), whose general partner BGP owns, was up 89 cents, or 1.8%, to $50.31.
Color Kinetics (CLRK Quote) got a lift after Ford (F Quote) licensed rights to use the Boston-based company's patented color-controllable lighting in its vehicles. Terms weren't disclosed. Color Kinetics shares rose $1.67, or 8.6%, to $21.11. Ford were adding 3 cents earlier in the day but closed down 4 cents to $8.04. ...
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