The potential for the merger to fail IS NOT NEW NEWS
The potential for the merger to fail IS NOT NEW NEWS. The merger _not_ going through is already more than priced in to the current $28 price and has been for many weeks. Yes, the market may react badly tomorrow and drop LINE and LNCO temporarily, but longer term they should both be higher even without a BRY merger. $28 for LINE does not represent any premium at all for the potential of the merger going through.
I try to remember where LINE was a year ago before all this happened. Take away all the hype from the short attack, an SEC "Informal Inquiry" and a BRY merger which may or may not happen and what do you have? I see a leader in upstream MLP's comfortably trading in the low $40's that has been strengthened by a $525 Million acquisition that increases oil exposure in the Permian Basin and becomes immediately accretive. Perhaps my view is overly naive, but it seems that too much is being made of the short term effects of everything that is swirling around. Granted that markets trade to a great degree on emotions, but in the long run fundamentals will rule. As many on this board have stated, Berry would make a great fit, but it is certainly not the only game in town. In the meantime, I will kick back and enjoy my monthly income while reading the postings.
One of the great things from this SHORT attack is the fact I get to load up on a mountain of LINE shares at a unbelieveable low price. There is no way this stock is not going to be trading at $43.00/share in the very near future.
Don't care how you slice it and dice it, it's a money maker.
I work, make more money, buy more Linn Shares and make more money.