Buckeye Partners (BPL) Misses Q1 EPS by 11c

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Go back to Buckeye Partners (BPL) Misses Q1 EPS by 11c

Buckeye Partners (BPL) to be Acquired by IFM Investors for $41.50/Share

May 10, 2019 8:46 AM EDT

IFM Investors and Buckeye Partners, L.P. (NYSE: BPL) today announced a definitive agreement ("Agreement") under which the IFM Global Infrastructure Fund will acquire all of the outstanding public common units of Buckeye for $41.50 per common unit. The all-cash transaction is valued at $10.3 billion enterprise value and $6.5 billion equity value. The acquisition price represents a 27.5% premium to Buckeyes closing unit price on May 9, 2019 and a 31.9% premium to Buckeyes volume-weighted average unit price since November 1, 2018, which is the last trading day prior to Buckeyes announcement of certain strategic actions. Buckeyes Board of Directors... More