Linn Energy to pay $600 mln more for Berry Petroleum

Reuters

Nov 4 (Reuters) - U.S. oil and gas producer Linn Energy LLC raised its purchase price for Berry Petroleum Co by $600 million to $4.9 billion, the two companies saidin a joint statement.

Under the new deal, Berry shareholders will receive 1.68 shares of LinnCo LLC, a company set up by Linn to raisemoney for acquisitions and other purposes, higher than theoriginal offer of 1.25 shares.

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