Deal Details
Follow-on Offering
Summary
Baird served as a senior co-manager in this offering.
About
LINN Energy, LLC (Nasdaq: LINE) (“LINN” or the “Company”) recently completed a follow-on offering of 11,500,000 common units, representing limited liability company interests in LINN at a price of $35.92 per unit. The offering generated gross proceeds of $413.1 million. LINN intends to use the proceeds to reduce debt under the Company's revolving credit facility and for general corporate purposes.LINN’s mission is to acquire, develop and maximize cash flow from a growing portfolio of long-life oil and natural gas assets. LINN is an independent oil and natural gas development company with approximately 2.4 Tcfe of proved reserves in producing U.S. basins as of year-end 2009 (pro forma for 2010 announced and closed acquisitions). The Company’s properties are located in the United States, primarily in the Mid-Continent, Permian Basin, California and Michigan.
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- Date
- December 2010
- Company
- LINN Energy, LLC
- Transaction
- M&A
- Sectors
- Energy
- Target Geography
- North America
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