October 28, 2019 [World Pipelines] – The merger agreements relating to the proposed merger and the transactions contemplated thereby were previously approved by the affirmative vote of the holders of a majority of Buckeye’s outstanding limited partner units on 31 July 2019.
The completion of the proposed merger is currently expected to occur prior to market opening on 1 November 2019 subject to the provisions of the merger agreement, including the satisfaction/waiver of customary closing conditions.
As previously announced, upon completion of the proposed merger, Buckeye’s outstanding limited partner unit holders will receive US$41.50/unit. In accordance with the terms of the merger agreement, if the completion of the proposed merger occurs on 1 November 2019 as currently expected, Buckeye’s general partner would not declare or pay a cash distribution for the quarter ended 30 September 2019.
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