If Berry reneges on the merger, Line/Lnco pps will drop dramatically. And there's the further possibility that the SEC will come down hard on Line/Lnco, if this happens then the pps will be crushed further as numerous class action lawsuits will be waged, and won, against the two companies.
I wish Line/Lnco shareholders the best, but too many of you are painting the situation as a fantasy, "The Good Ship Lollipop".
Shanks spouting BS are a nickle a dozen and not worth the read. I expect Monday to be a so_so trading day. Tuesday after Earnings should be interesting. No one knows about the merger ,one or both may have a better deal in play. I will play up or down which ever. When a shank posts endlessly as if in a fever that signals there desperation. The MB or any other does not move PPS. If entrenched and overextended and the market moves against you are toast. Trudy sounds like toast !!!!!!
Wow, I can see that my original post has generated a lot of angst from 'loyal/hopeful' Line/Lnco shareholders. I can also see that a lot of distortions/untruths are being given to my post because I'm not echoing the 'loyal/hopeful' Line/Lnco viewpoint. So, let me raise some points and then I will not post anymore and allow the 'mob posting mentality' to prevail on this board.
1. I am only warning current shareholders against looking at Line/Lnco shares with rose colored glasses.
2. I used to be a Lnco long, bought at the inception of the shares, but I sold after the SEC stepped in with their informal investigation. Make no mistake, the SEC investigation, and it's findings, is not over and absolutely cannot be good news for Line/Lnco. Line has already revised some it's past financial reports because of the investigation.
3. I am not shorting Line/Lnco shares nor am I trying to influence the pps in any way. Anyone who believes or posts that a 'poster on a message board' can influence the pps of a stock is either an amateur investor, a bozo, or a liar. I'm only posting my viewpoint.
4. I fully believe that the Berry deal is dead as a dog. Berry shareholders aren't going to agree to merge with a company whose pps has fallen dramatically and whose accounting methods are under SEC investigation. But this doesn't apply to Berry only, I can't envision any company wanting to merge with Line/Lnco, until the SEC has finalized it's findings. And, make no mistake, when Berry withdraws it's merger offer, the pps will fall further.
5. Some posters claim that Line/Lnco was doing AOK without the Berry merger. But the fact is that Line/Lnco needed the Berry merger to sustain it's large dividend payouts. Without the Berry merger or some other merger, Line/Lnco dividends will shrink and cause a further loss in the pps.
6. The SEC investigation is still looking at the financial feasibility of the creation of Lnco, given Line's questionable accounting practices.
7. If the SEC does uncover accounting irregularities by Line/Lnco, there will be millions of dollars of payouts to shareholders through class action lawsuits.
All I'm saying is don't be loyal to any stock, there is no place for 'loyalty' in investing. Don't be so hopeful in your investment that you close your eyes to what's really going on. And don't listen to posters on a message board who have circled their wagons and distort the facts in order to fool others and protect their investments.
Good luck to all Line/Lnco investors, I mean that, but look at all sides of the picture.
thank you for ylour pontification on the bry deal or no deal. just as I have n idea what bry holders are thinking you probably have no idea what line lnco holder are thinking.unless you own some. and ill be honest I wish management had never said bry months ago. what I do know is that my line shares were a lot higher even before bry was ever mentioned. if bry wants out then say so nov 1 at 12.01 am so this madness can stop. I also feel sec bullets have already been fired reloaded and fired again. during the last six months management could have spent their bry time looking for more assets that would be as good if not better than the whole bry deal. once this is done or not line can move on, bry can move back down to low or mid 30s, and they can fall back on that 8 or 10 cent divvy. line can incorporate their new assets in Permian , find a few more oilish fields, and make us unit holders some more money. Suddenly critical to sa today, fantasy I think not. my 11000 dollar divys in last 10 months no fantasy. having shorts cover my divys priceless
"11000 dollar divys in last 10 months no fantasy",
Larry, it's cool that you made $11,000 in the last 10 months from dividends from your Line/Lnco investment. But, supposing that you did make $11k, then you must have held about $150,000 worth of Line/Lnco stock. If so, while mentioning your $11k gain in dividends, you conveniently failed to mention your 40%+ loss from the drop in the pps of your shares. That would work out to a loss of $60k. And that 40% loss worked out to a lot more than your 8-10% dividend payouts. Larry, you are exaggerating your gains and not telling the whole truth about your large losses. And yes, I know you haven't really lost money until you sell your shares. But the fact is, your shares are worth 40% less than they were 10 months ago and the dividend payout is no where near the payback needed for that loss in value.
From Seeking Alpha Blog:
The BRY Acquisition Is Critical
LINE still awaits the Securities and Exchanges Commission's ruling on the fate of its large and complex deal with its affiliate company Linn Co (LNCO). This deal is for LINE to buy and acquire the assets of BRY for $2.42 billion, though total costs could exceed $4 billion. The deal is a huge catalyst for LINE/LNCO. Why is it so important? Well BRY is currently a publicly traded independent oil and natural gas production and exploitation company with operations in California, Texas, Utah and Colorado. As part of a deal such as this, LINE will assume all of BRY's debts and assets. BRY has impressive assets. BRY has over 3,000 producing wells covering more than 200,000 acres of land. What's more, these assets have relatively low-decline in quality/quantity and long-life. This fact makes it a low-risk, long rewarding play that is a decent fit for LINE's master limited partnership structure. Because of BRY's well and land locations, the deal will help LINE expand its growth into markets in California, Texas, the Permian Basin and the Uinta Basin. With BRY's annual production numbers, LINE could see an increase in production anywhere from 20%-40%. ItFor shareholders, it ultimately translates to the potential for the company to bring in a lot more revenue which could lead to higher more sustainable dividends, above the current 11.7% yield it currently pays. However, the deal will need final approval before it can move forward.
But The Deal Could Be In Jeopardy
What has grabbed the attention of shareholders of LINE, LNCO and BRY right now is a recent statement by BRY. BRY recently stated that the deal with LINE is the subject of an inquiry by the Securities and Exchange Commission and it will not be completed by October 31st. This means that after this date either BRY or LINE/LNCO can decide not to proceed with the deal.
Exercise caution with Line/Lnco shares!
Nonsense. If the BRY deal falls through Linn will simp[y accelerate their large pipeline of asset purchases. The sp was 39 before BRY was ever mentioned and they have since acquired an additional $500 million in accretive assets. No doubt shorts like you will go on a rant and try to drive the price down. But, the company in its current form is trading at a 25% discount to its NPV which will be recouped.
You TRUDY, using Seeking Alpha, which has repeatedly trashed LNCO unfairly and inaccurately, as your best source shows your obvious agenda.
Why would any LNCO investor listen to Seeking Alpha or you?
Trudy, you sound like a short to me, nothing wrong with that. Oil and gas is cooking in the USA and if the merger does not go through I agree that we will see a further drop, but long term outlook for us longs is alive and well. Dividends, oil and gas, will be a long time winner.