Linn Energy Boosts Berry Petroleum Offer By $600M

Law360, New York (November 4, 2013, 5:03 PM EST) -- Texas oil and gas company Linn Energy LLC, through its acquisition unit LinnCo LLC, will pay an additional $600 million to purchase rival Berry Petroleum Co., raising the total purchase price to $4.9 billion, the companies said Monday.

Under the new stock-for-sale agreement, Berry shareholders will receive 1.68 shares of LinnCo common stock or every Berry unit, up from the 1.25 shares from the prior deal. That means Berry investors would receive $55.79 per share of Berry, based on LinnCo's closing stock price Friday.

The companies...
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