UBS Cuts Price Target on LinnCo (LNCO) Following Announced Asset Sales
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Market Wrap: Markets Weak on Greece, China; Aetna Moves to Acquire Humana; ISM Service Index Gained in June
July 6, 2015 5:20 PM EDTMarket wrap for July 6th
End of the Day: S&P 500 down 8.0 to 2,068.76; Dow Jones down 46.5 to 17,683.58; Nasdaq down 17.3 to 4,991.94
Market Brief: U.S. markets closed lower Monday following the Greek referendum on Sunday, which saw citizens vote against new austerity measures required to accept a new round of bailout funds. The vote puts Greece at risk to exit the euro, which would have a negative effect on markets globally.
Focus was also on China's stock market, which saw additional pressure amid... More
LINN Energy (LINE) Finalizes DrillCo Agreement with GSO Capital Partners
July 6, 2015 7:16 AM EDTLINN Energy (Nasdaq: LINE) and LinnCo, LLC (Nasdaq: LNCO) announced that LINN has signed a formal agreement with private capital investor GSO Capital Partners L.P. ("GSO"), the credit platform of The Blackstone Group L.P. (NYSE: BX), to fund oil and natural gas development.
Funds managed by GSO and its affiliates have agreed to commit up to $500... More
LinnCo (LNCO) Finalizes Agreement with Quantum Energy Partners
July 6, 2015 7:03 AM EDTLINN Energy, LLC (Nasdaq: LINE) ("LINN" or the "Company") and LinnCo, LLC (Nasdaq: LNCO) ("LinnCo") announced that LINN has signed definitive agreements with private capital investor Quantum Energy Partners ("Quantum") to fund selected future oil and natural gas acquisitions and the development of acquired assets ("QL Energy I, LLC" or "AcqCo").
Quantum has agreed to initially commit up to $1 billion of equity capital to fund acquisitions and development of oil and natural gas assets. LINN will have the ability to participate in all acquisition opportunities with a... More
LINN Energy (LINE) to Sell Rest of Wolfcamp Stake in $281M Deal
July 6, 2015 6:47 AM EDTLINN Energy (Nasdaq: LINE) and LinnCo, LLC (Nasdaq: LNCO) announced that LINN has signed a definitive agreement to sell its remaining position in Howard County in the Permian Basin for a contract price of $281 million. The... More
