Houston-based MLP’s multibillion-dollar buyout approved, set to close

The multibillion-dollar deal to take Houston-based Buckeye Partners LP (NYSE: BPL) private is about to close.

Australia-based IFM Investors’ acquisition of the master limited partnership has received all regulatory approvals, Buckeye announced Oct. 21. Buckeye’s unitholders approved the deal on July 31.

Now, the deal is expected to close Nov. 1, which would mean Buckeye’s general partner would not declare or pay a cash distribution for the third quarter, according to Buckeye’s Oct. 21 press…

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