Here's the deal. The announcement by Berry had to be made, although this exit possibility is clearly not new news. Timing isn't great, but it is what it is. LINE has earnings Monday..if they're good, the stock will move up. If not, and the stock drops..I would have to think the deal is done.
Most of the shares are owned by institutions, not individual shareholders.
This is a 50/50 call...I personally thought LINE was overpaying for Berry. Still debating whether to sell for a small loss and mitigate the risk.
I think it is a done deal..will hold for the dividend..but they may cut it and or will
they still be able to pay it????
SEC is the cause of this #$%$..and are the big problem in DC
always fining companies..extortion against the banks
and ayway to suck money from businesses...
and anyone know wheer the money goes...not to the ones that were
hurt..just in the black hole of the fed govt..
they should all wear a black mask..they are robbing the people
in the name of the holy govt.
A-Holes one and all...
I'm not sure what the rush is...why not see what they say first, before getting in...this stock is WAY below where it would be if earnings are solid, coverage is above 1 and the deal goes through. I mean, if you like losing money, that's great, but I'd be careful here. Seriously.
Both LINE & BRY passed on holding conference calls when when released their earnings reports. Both will be have to explain whether the deal happens or doesn't. My best guess is that LINE is pushing their 10Q out immediately after their earnings release and before Oct.31 is because the deal is happening and both BRY/LINE will jointly announce the news about the closing of the deal. Do not see how both LINE & BRY will both remain silent and not close the deal. Both would have to explain themselves either way. Holding off is more likely a sign that both companies are working together towards a common goal and will announce the news together when the SEC final does it's job and gives official approval.
I agree, Linn was overpaying for BRY. I think Linn shares are already trading at a price that reflects the merger not going forward. The wild card is earnings on Monday. If they're good, Linn goes up, if they're bad, look out below.