According to an Associated Press report, "The ratings service said its revised outlook for Linn reflects the benefit of the addition of Berry's size, scale and low-decline, liquids-focused assets. But it added that Linn's aggressive pace of acquisitions boosts the risks related to the company."
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Now the 2.42-billion-dollar question is how the shareholders of LINE and BRY will react to all these developments. A press release Friday stated that a Wayne, Pa., law firm is investigating potential claims against the board of directors of Berry Petroleum. The press release states the investigation concerns "...possible breaches of fiduciary duty and other violations of law related to the company's
The press release doesn't explain where they come up with the figure of $4.3 billion. It concludes by saying, "Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the company's board of directors; in particular, whether the company undertook a fair process to obtain fair consideration for all shareholders of Berry Petroleum."For more information regarding the investigation you can contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com. All I know about this firm is Ryan & Maniskas, LLP is a national shareholder litigation firm. Fundamentally, this deal looks very good for the future dividends of LINE and LNCO. If the deal goes through they'll be buying a company