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Berry Petroleum Company, LLC Message Board

  • dana.scott4321 dana.scott4321 Feb 21, 2013 7:34 AM Flag

    BUYOUT OF BERRY - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS

     

    February 21, 2013
    New York, New York

    Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Berry Petroleum #$%$ behalf of shareholders. It was announced that LINN Energy and LinnCo had entered into a merger agreement to acquire Berry in a stock for stock transaction. Under the terms of the agreement, LinnCo has agreed to issue 1.25 common shares for each common share of Berry outstanding prior to the merger. The consideration to be received by Berry shareholders is valued at $46.2375 per Berry share based on LinnCo's closing price as of February 20, 2013.

    The investigation concerns whether the board of directors of Berry breached their fiduciary duties by not engaging in a full and fair auction of the company to obtain the highest price possible for shareholders while not obtaining personal benefits for themselves to sell the company at this unfairly low price. Indeed, analysts have projected that Berry's true takeover value is worth at least $50 per share.

    If you are a shareholder of Berry and would like to learn more about this merger and how it affects your rights as a shareholder, at no cost or obligation, please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy

    Tripp Levy is the leading shareholder rights firm and has recovered hundreds of millions for investors across the globe. Attorney advertising.

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