Latham Reps Linn Energy In $4.3B Deal For Berry Petroleum

Law360, New York (February 21, 2013, 12:06 PM EST) -- Texas oil and gas company Linn Energy LLC will swallow up rival Berry Petroleum Co. in a deal worth $4.3 billion, boosting its annual output by nearly one-third to spawn one of the largest independent exploration companies in the U.S., Linn said Thursday.

Under the stock-for-stock deal's terms, a Linn affiliate will issue 1.25 new common shares for each Berry unit. The shares offered to Berry investors are valued at $46.24 a pop, representing a roughly 20 percent premium over the company's Wednesday close and bringing...
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