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Houston-based MLP calls shareholders to approve multibillion-dollar buyout

Joshua Mann
Houston-based MLP calls shareholders to approve multibillion-dollar buyout

At the end of the month, Houston-based Buckeye Partners LP (NYSE: BPL) will ask shareholders to approve of an impending multibillion-dollar buyout that would take it off public markets. Buckeye has set a meeting for July 31 where shareholders will decide whether the midstream master limited partnership can move forward with its upcoming sale to a fund managed by IFM Investors, according to filings with the U.S. Securities and Exchange Commission. The company reached an agreement with IFM in May, but its shareholders need to approve the deal if it is to move forward.