Sat, Aug 30, 2014, 3:04 AM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Linn Co, LLC Message Board

  • bcrayne@bellsouth.net bcrayne May 31, 2013 3:41 PM Flag

    share price drop

    Linn Energy, Berry Petroleum fall as SEC reviews merger
    Shares of Linn Energy (LINE), a master limited partnership, are retreating as the SEC reviews the company's proposed takeover of Berry Petroleum (BRY). The latter company's stock is also dropping. WHAT'S NEW: Investors are worried about the outcome of the deal because the SEC appears to have issued a second round of comments to Linn Energy about the deal, RBC Capital analyst John Ragozzino wrote in a note to investors. The worst case outcome, however, is that the deal will be delayed until around mid-July, versus the initial target date of July 1, the analyst contended. Ragozzino believes that Linn's decline today is unwarranted, and that the decline has created an attractive buying opportunity. WHAT'S NOTABLE: Linn's acquisition of Berry is the first time an MLP has attempted to buy an entire energy exploration company. MLPs do not pay taxes on their profits. TODAY'S PRICE ACTION: In mid-afternoon trading, Linn Energy dropped 2.3% to $33.10, while Berry slumped 2.6% to $43.55. Shares of LinnCo (LNCO), whose sole purpose is to own LINN Energy units, are down 2% to $36.49.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
LNCO
31.45+0.16(+0.51%)Aug 29 3:59 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.