Top Story | Deals - Acquisition, Mergers, Divestitures
LINN to Acquire Berry Petroleum in Billion-Dollar Deal
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LINN Energy LLC, LinnCo LLC and Berry Petroleum Company has reported 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 $4.3 billion, 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. This transaction represents the first ever acquisition of a public C-Corp by an upstream LLC or MLP.
Berry Petroleum California AssetsSouce: Berry Petroleum - February 2013 Investor Presentation
Berry Petroleum Permian AssetsSouce: Berry Petroleum - February 2013 Investor Presentation
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