The Roller-Coaster Ride for Linn Energy LLC (LINE) Investors Continues

Until that time, this added uncertainty also would appear to signal that investors will see a further delay in the closing of the proposed Berry Petroleum merger. Berry already delayed its shareholder vote on the matter and isn’t likely to reschedule the vote until the SEC inquiry is cleared up. LINN clarified in the press release: “[Although] the impact of the inquiry on the timing of LinnCo’s proposed merger with Berry Petroleum Company is difficult to predict, LinnCo and LINN remain committed to the completion of the transaction.” The companies have made it pretty clear that everyone is still committed to the merger; however, there is always the risk that the deal could fall through and it’s that uncertainty that has also spooked investors.

The bottom line is that Linn Energy LLC (NASDAQ:LINE) still has more work to do before it can close its acquisition of Berry Petroleum. It’s better to get that work out of the way, get its name cleared or its issues fixed so that it can move forward. So, while the delay isn’t ideal, when LINN does finally close its deal for Berry it will have clearer path to make similar deals in the future. LINN really has been blazing a new trail since its formation, as is evident in how it set up LinnCo, so it’s only logical that it will come up against a few road blocks along the way.

The article The Roller-Coaster Ride for LINN Energy Investors Continues originally appeared on Fool.com and is written by Matt DiLallo.

Fool contributor Matt DiLallo owns shares of LINN Energy, LLC and LinnCo, LLC. The Motley Fool has no position in any of the stocks mentioned.

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