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News Breaks | | | | February 21, 2013 | | 07:10 EDT |  | LINE, BRY, LNCO | LINN Energy, LinnCo to acquire Berry Petroleum for $4.3B
LINN Energy (LINE), LinnCo (LNCO) and Berry Petroleum (BRY) announced the signing of a definitive merger agreement pursuant to which LINN and LinnCo will acquire all of Berry's outstanding shares for total consideration of $4.3B, including the assumption of debt. The transaction, which is structured as a stock-for-stock merger of Berry with LinnCo followed by the acquisition of the Berry assets by LINN, is expected to be tax-free to Berry shareholders. Under the terms of the agreement, which was unanimously approved by the boards of directors of LINN Energy, LinnCo and Berry, LinnCo has agreed to issue 1.25 common shares for each common share of Berry outstanding prior to the merger. The consideration to be received by Berry shareholders is valued at $46.24 per Berry share based on LinnCo's closing price as of February 20, 2013. This represents a premium of 19.8% to the Berry closing price on February 20, and a premium of 23.1% to its one month average price at that date. The acquisition, which is expected to be tax-free to Berry's shareholders, is structured as a stock-for-stock merger. In connection with the merger Berry will be converted into an LLC. Upon completion of the merger, LinnCo will contribute the Berry assets to LINN in exchange for LINN units. | |
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News For LINE;LNCO;BRY From The Last 14 Days Check below for free stories on LINE;LNCO;BRY the last two weeks. |
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| May 16, 2013 | | 11:27 EDT |  | LNCO | Options with decreasing implied volatility: LNCO MBI OPK THRX SGMO
 Subscribe for More Information | | | May 9, 2013 | | 11:15 EDT | | BRY | High option volume stocks: BKS ISIS BRY GMCR JOE
| | | May 8, 2013 | | 06:23 EDT | | LINE | LINN Energy volatility elevated on wide price movement
LINN Energy May put option implied volatility is at 34, June is at 30, July is at 32; compared to its 26-week average of 21 according to Track Data, suggesting large price movement. | | | May 7, 2013 | | 05:53 EDT | | LINE | Stocks with implied volatility movement; LINE HLF
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