Have to agree with That BRY will give back if the merger dissolves. It had a pretty dang good pop on the announcement. Check the chart over the last year... I would like to see the deal move forward but am in it for the income...
Leave it to the SEC to take their sweet time...the government is always screwing things up. I think something big is going to happen either on Monday or Friday next week. Hopefully, good but since I own shares of LNCO I am sure it will be terrible news short term.
LINE/LNCO is a complete no buy until the SEC and BRY merger cloud is lifted. As long as they (LINE/LNCO) can maintain the monthly dividend I am long with or without the merger of BRY. Amazing what power short sellers have - we need Carl Icahn really bad. Good luck longs.
Under the current terms of the merger, I think you may have it right, especially with the word that either or both parties may walk away if the deal is not done by the 31st. I reckon if it is to proceed Bry board of directors would want a larger amount of shares of LNCO for each share of BRY. It will prove interesting either way. If the deal completely falls through, what will happen to LNCO? Depends on the upcoming quarterly report. LNCO will be more free to persue other O7G property. Then what of BRY? Interesting to see where it settles if the deal is off as I believe it popped when the merger was announced and has languished in the lower 40"s since. Then rose more recently in anticipation of the merger. If BRY really wants the merger what will they ultimately take in LNCO shares? Interesting either way.