The sound you are hearing is the death knell for the Berry deal
The moment you get into GAAP and non-GAAP disclosure questions and the SEC is the moment the seller is compelled to re-evaluate. There is no way Berry can do this deal with the original terms. Best case is maybe 1.5x.
BRT can force a higher ratio and I think Linn would accept 1.5x, but the money will just come out of the distributions BRY owners will receive after the merger. I think BRY's institutioinal investors realize that. Their interests diverge from those of people trading the stock, and the institutional investors are a big majority.