When the Berry acquisition closes, LINE will rally higher
There was the same uncertainty before Energy Transfer Partners acquisition of Sunoco. Once the deal closes and the uncertainty eliminated, ETP rose $11 over the next several months. There's no reason to think that the Berry deal, which is accretive to earnings, won't have the same positive effect on LINE's stock price. Until then, I think we're going sideways in a relatively narrow range.
I'm thinking there will be a pop either July 5th(last day to own before divy) or July 8th(ex-date), depending on who is long and who is short. Whoever has borrowed the stock has to pay the dividend on July 8th. I will feel much better on this holding after the 5th
Let's just say with the passage of each day, we're in an improving investment/trade environment for LINE. The shorts have had their way for quite some time. As we get closer and closer to the elimination of the uncertainty, the multitude of shorts will begin to cover and the stock will rise (as before) faster than anyone foresees (just as it did on the downside to $29+).