5 Firms Steer $10.3B Deal For Midstream MLP Buckeye

By Chelsea Naso (May 10, 2019, 10:07 AM EDT) -- Institutional fund manager IFM said Friday it will snap up midstream logistics-focused master limited partnership Buckeye in a $10.3 billion deal shaped by White & Case, Baker Botts, Paul Hastings, Cravath and Vinson & Elkins.

News of the deal comes after Houston-based Buckeye Partners LP in November announced a pair of divestitures together worth $1.4 billion in order to shore up its financial flexibility and focus on growth opportunities following a strategic review.

The MLP believes that given what it gleaned from its recent strategic review, an acquisition by IFM Investors' IFM Global Infrastructure Fund is in its best interest, according...

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