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

|About: Linn Energy, LLC (LINEQ)|By:, SA News Editor

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.