Linn's management and the earnings will hold no surprises. It will be a non-event. If necessary they will extend the BRY deal. They are patient and never panic. The more they wait, the less exposure they have to the short thesis. Technically, $26.50 is the where the price should settle. If it holds at this level, I will add to my position. GLTA
Oh, as for patience, LINN can be patient and take 10 years to pull the deal off, but for BRY mgmt., they implicitly expressed that Oct 31 is the deadline. They certainly had wear their patience over 8 months and numerous S-4 files, refiles, refiles, etc.
LINN mgmt. won't panic. Like they did back in July. They were very good at keeping their mouths shut as investors lost over 30%. I don't think it will be any different this time. They have their nice little 6 figure salaries, so they shouldn't be panicking....it is holders like YOU who will be panicking. So the question is not whether they panic or not, its whether you will be panicking as the tsunami hits.
Alarm bells had rang. Dismiss them at your financial peril.
Mergers are generally done by CEO's looking to "cash-out". BRY's CEO may be getting impatient and realizing he won' get filthy rich off this merger. That's why BRY made their public comment. It's all about greed.
BRY just stated on the 10Q that they can unilaterally sever the deal, whether or not LINN wants to extend.
Keep averaging down. This 'non-event' can turn into a 'seriously wrong' event 4 days from now. Keep catching that falling knife, because there will be a millions of shares for you to absorb until you are broke. Touche.
I think it is a game over for LINE/LNCO deal with BRY. I have no faith that the deal will happen but after all the drama is over with the merger and SEC then I think LINE/LNCO will be a good investment again. Till then it is a dont touch.