Linn Energy, LinnCo Holders Seen Getting Nothing -- Market Talk
DOW JONES & COMPANY, INC. 8:27 AM ET 2/5/2016
Symbol Last Price Change
LINE 1.2 0 (0%)
LNCO 1up 0 (0%)
QUOTES AS OF 04:00:00 PM ET 02/04/2016
8:27 ET - Stifel Nicolaus doesn't see equity holders getting anything for their investments in LINN Energy(LINE) and its LinnCo(LNCO) affiliate in the wake of LINE's after-the-bell announcement that it will explore capital-structure alternatives. The investment bank sets zero price targets on both--they ended Thursday around $1--in saying under a reorganization "we do not anticipate significant recovery value for equity holders." This as LINE "borrowed the remaining $919 million available under its credit facility." LINE skids 42% premarket to 70c and LNCO slumps 58% to 42c; both were above $10 in June. (kevin.kingsbury@wsj.com; @kevinkingsbury)
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02-05-160827ET
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