Buckeye Partners (BPL) & Buckeye GP Holdings (BGH) Announce Approval of Merger
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Buckeye Partners, L.P. (NYSE: BPL) and Buckeye GP Holdings L.P. (NYSE: BGH) announced that their respective unitholders have approved their proposed merger.
At separate special unitholder meetings today, approximately 30.6 million BPL LP units, or 59.3% of the BPL LP units outstanding and entitled to vote, and approximately 23.5 million BGH common units and management units, or 83.2% of the BGH common units and management units outstanding and entitled to vote, voted in favor of the merger. In addition, approximately 30.6 million BPL LP units, or 59.3% of the BPL LP units outstanding and entitled to vote, voted in favor of the approval of BPL's Amended and Restated Partnership Agreement. Of the votes received from BPL unitholders, 96.2% of the votes were in favor of the merger and 96.1% of the votes were in favor of the approval of BPL's Amended and Restated Partnership Agreement. Of the votes received from BGH unitholders, 98.9% of the votes were in favor of the merger.
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At separate special unitholder meetings today, approximately 30.6 million BPL LP units, or 59.3% of the BPL LP units outstanding and entitled to vote, and approximately 23.5 million BGH common units and management units, or 83.2% of the BGH common units and management units outstanding and entitled to vote, voted in favor of the merger. In addition, approximately 30.6 million BPL LP units, or 59.3% of the BPL LP units outstanding and entitled to vote, voted in favor of the approval of BPL's Amended and Restated Partnership Agreement. Of the votes received from BPL unitholders, 96.2% of the votes were in favor of the merger and 96.1% of the votes were in favor of the approval of BPL's Amended and Restated Partnership Agreement. Of the votes received from BGH unitholders, 98.9% of the votes were in favor of the merger.
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