The only shareholders you'd think would be more excited are those of independent energy company Berry Petroleum (BRY). That because on Thursday LINE offered to buy BRY for $2.42 billion in stock to increase its proven reserves by 34%. Shares of BRY surged 19% on the news and were up another 2% on very heavy volume Friday, closing at $46.95.
LINE moved up 2.8% on Thursday and another 2.14% on Friday, ending the week at $38.49. LNCO surged over 5% on Thursday's announcement and moved another 0.69% higher on Friday, closing at $39.27, not far away from its 52-week high of $40.40.
a Bloomberg report Thursday, Berry shareholders will get 1.25 shares of publicly traded LNCO, "...a corporation whose only assets are units of Linn Energy, according to a joint statement released
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