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Buckeye Partners Agrees to $10.3B Acquisition by IFM Investors

Vinson & Elkins served as tax counsel to Buckeye Partners, L.P. in the acquisition of Buckeye by IFM Investors for $41.50 per common unit. The all-cash transaction is valued at $10.3 billion enterprise value and $6.5 billion equity value. 

Buckeye Partners is a publicly traded master limited partnership which owns and operates a diversified global network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Buckeye is one of the largest independent liquid petroleum products pipeline operators in the United States in terms of volumes delivered, with approximately 6,000 miles of pipeline.

The V&E tax team was led by partner Ryan Carney and included of counsel Price Manford, partners Jason McIntosh and Natan Leyva, and associates Christine Mainguy and Dan Henderson.

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