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Linn Co, LLC Message Board

  • kellywest72 kellywest72 Dec 21, 2013 12:34 PM Flag


    LNCO will transfer Berry to LINE for LINE units. Okay I get they will be back to one for one, but has both LNCO and LINE float increased? I am a little confused and need some help understanding.

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    • Cutting through all the transactions in the merger, here's the net effect. LNCO increased its shares by about 91.5 million and these were traded to BRY holders for their 54.45 million at 1.68 to 1. LINE also increased its units by 91.5 million and these are now held by LNCO. So LNCO holdings of LINE went from about 34.8 million to 126.3 million. LINE units went from 235.2 million to 326.7 million.
      It's noteworthy that institutional holding of LINE and LNCO have increased substantially. 91% of BRY shares were held by insiders and institutions...They now are holding the extent they haven't sold positions. And LNC's holdings accounts for over 38% of LINE units whereas before the merger LNCO held about 15% of LINE units.
      Not sure what the greater institutional holding of LNCO and LINE will mean for the dynamics of PPS movements, but having a smaller share of units and shares in retail hands might add to volatility.
      If Ruby picks up this thread, she might have good insights to offer.

      • 1 Reply to fredrickson01
      • Frederick- I have a 24 year old grandson by the same name. Thank you for the share specifics. I was a bit blunt telling the previous poster to figure it out for himself. Still, I have to wonder where you find your institutional number. Yahoo reports this, but their information is months behind where things really are. Things have changed dramatically since the exchange of LNCO shares for BRY shares. I believe many of the institutional holders of BRY ((including the index funds that can't hold LNCO) have been selling their LNCO shares. I personally view this as an opportunity to acquire LNCO shares at a bargain price. Still the question remains, what is your source for posting an increasing institutional ownership of LNCO? GLTA

        Sentiment: Buy

    • The answer is "Yes". The outstanding shares issued by both LINE and LNCO have increased significantly. If this really is important to you, you will find all the specifics in the SEC filings and the hundreds of press releases issued concerning the BRY acquisition. GLTA

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