trending Market Intelligence /marketintelligence/en/news-insights/trending/1BGvoK90YrQU5ofleV1OMQ2 content esgSubNav
In This List

Linn Energy to launch common share tender offer at $44 apiece


Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy


Japan M&A By the Numbers: Q4 2023


See the Big Picture: Energy Transition in 2024

Linn Energy to launch common share tender offer at $44 apiece

Linn Energy Inc. plans to commence a tender offer to buy for cash up to 7,386,364 of its class A common shares, equivalent to about 8.8% of the outstanding common stock, at a price of $44 per share.

The purchase price represents a premium of about 10% to the highest closing price of Linn common shares since it started trading on the OTCQB Markets on April 10, according to a Dec. 20 news release.

Stockholders may tender all or part of their shares during the tender offer, which Linn would fund using cash on hand. The tender offer is scheduled to expire on Jan. 19, 2018.

Morgan Stanley & Co. LLC is serving as dealer manager while American Stock Transfer & Trust Co. LLC is acting as the depository for the tender offer. Linn previously announced plans to separate into three standalone companies by mid-2018 to unlock asset value.