In a sign of weak demand, Buckeye GP Holdings LP priced 10.5 million shares (3.6 million shares less than expected) at $17, a 15% discount to its proposed $19-$21 range. Buckeye GP (BGH) owns the general partner of the oldest publicly traded pipeline master limited partnership and major transporter of refined petroleum products in the Northeast and TX regions, Buckeye Partners (BPL). Goldman Sachs, Merrill Lynch, Citigroup and UBS Investment Bank acted as joint book-running managers for the deal. The stock is expected to commence trading on the NYSE under the ticker symbol "BGH" on Friday.
