In the words of Tupac, the darker the berry, the sweeter the juice. What’s darker than the black gold, the Texas tea?
Linn Energy (LINE) and Berry Petroleum (BRY) have agreed that Linn will pick the Berry, with BRY holders receiving 1.25 shares of LINE for each share of BRY. This will be about a $2.5 billion deal.
More analysis to follow, we just found out. In the meantime, have some Tupac:
And some Halle Berry:
Linn Energy Form 8-K
Disclosure: We own shares of LINE.