In a press release, Linn said that the effect on the proposed merger is “difficult to predict,” but the companies remain committed to the merger. The deal was planned to close after Linn Energy’s shareholder meeting, which had been scheduled for the third quarter of this year.
The Linn companies expected the acquisition to add $0.40 a share to distributable cash flow in the first full year following the transaction, and Linn Energy’s management recently boosted its dividend from $2.90 to $3.08. LinnCo also pays a dividend of $3.08.
Shares of Linn Energy are down 18% in the mid-afternoon today, at $27.35 after posting a new 52-week low of $57.11. The 52-week high is $42.57.
LinnCo’s shares are down nearly 17% at $30.91 after posting a new 52-week low of $30.63. The 52-week high is $44.20.
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
