Rigrodsky & Long, P.A. announces that it is investigating potential claims against Buckeye GP Holdings L.P. (“BGH” or the “Company”) (NYSE: BGH) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Buckeye Partners, L.P. (“BPL”). ( http://www.rigrodskylong.com/news/BuckeyeGPHoldingsLP-BGH).

Under the proposed agreement, BGH unitholders would receive 0.705 BPL limited partnership units in exchange for each BGH limited partnership unit owned at closing, an approximate value of $41.01 per BGH unit. Additionally, the transaction would result in approximately 20 million additional limited partnership units being issued by BPL. The merger transaction will result in BPL owning its general partner and the cancellation of BGH’s incentive distribution rights.

The investigation concerns whether BGH failed to adequately shop the Company and obtain the best price possible for BGH’s unitholders before entering into the agreement with BPL. Moreover, 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.

If you own the common units of BGH and purchased your common units before June 11, 2010, 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 Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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