Seeking Alpha

Linn Energy (LINE) agrees to acquire Berry Petroleum (BRY) for stock worth ~$2.5B, in a total...

Linn Energy (LINE) agrees to acquire Berry Petroleum (BRY) for stock worth ~$2.5B, in a total deal valued at $4.3B including assumed debt. As part of the transaction, LinnCo (LNCO) will issue 1.25 shares for each outstanding BRY share, which values BRY at almost $46.24/share, a 19.8% premium to its closing price yesterday. BRY +18.5%, LINE +1.8%, LNCO +2.7% premarket.
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Comments (3)
  • CaptKorn
    , contributor
    Comments (154) | Send Message
     
    Well this should be an interesting day for the shorts. And thanks for the buying opp. I do wish I owned some Berry however.
    21 Feb 2013, 08:17 AM Reply Like
  • William Rilling
    , contributor
    Comments (141) | Send Message
     
    If there is a lot of shorting, I may add to my position.
    21 Feb 2013, 08:26 AM Reply Like
  • Fear & Greed Trader
    , contributor
    Comments (5855) | Send Message
     
    Congrats to all that decided to add or initiate on weakness.

     

    Commentary from Feb 19th.

     

    http://bit.ly/ZuafPa
    21 Feb 2013, 10:19 AM Reply Like
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