Buckeye Partners, L.P. entered into agreement to acquire Three Marine Terminals in Connecticut, Delaware and Louisiana from Magellan Midstream Partners, L.P. (NYSE:MMP) for approximately $250 million on January 20, 2020. The transaction is subject to regulatory approvals and is expected to close by late first quarter or early second quarter 2020.Jefferies served as financial advisor and Gable Gotwals served as legal counsel to Magellan in connection with the transaction. Benjamin Wills, Amy Kelly and Ross Friedman of Morgan, Lewis & Bockius LLP acted as legal advisors to Buckeye Partners, L.P. in the transaction. C. Timothy Fenn and Bryant Lee of Latham & Watkins LLP and Aileen M. Hooks Baker Botts L.L.P.,Michael P. Bodosky and Paul T. Luther acted as legal advisors for Magellan Midstream Partners, L.P.

Buckeye Partners, L.P. completed the acquisition of Three Marine Terminals in Connecticut, Delaware and Louisiana from Magellan Midstream Partners, L.P. (NYSE:MMP) on March 20, 2020.