Oil and gas producer Linn Energy LLC said it would purchase Berry Petroleum Co in an all-stock deal valued at $4.3 billion including debt, giving it more exposure to lucrative liquids that will help it raise production by 30 percent. Berry shareholders will receive the equivalent of about $46.24 per share, a 19.8 percent premium to the stock's closing price of $38.59 on Wednesday on the New York Stock Exchange.
Berry Petroleum Company is an independent energy company engaged in the production, development, exploitation and acquisition of oil and natural gas. Shares of BRY remained unchanged at $38.59. In the past year, the shares have traded as low as $30.21 and as high as $57.26. On average, 578497 shares of BRY exchange hands on a given day and today's volume is recorded at 700.
Linn Energy, LLC (LINN Energy) is an independent oil and natural gas company. Shares of LINE remained unchanged at $36.65. In the past year, the shares have traded as low as $34.27 and as high as $42.57. On average, 1718680 shares of LINE exchange hands on a given day and today's volume is recorded at 0.
Source
