Linn Energy LLC (NASDAQ: LINE) and LinnCo LLC (NASDAQ: LNCO) announced Feb. 5 that the Securities and Exchange Commission (SEC) has closed its inquiry of its merger with Berry Petroleum Corp.
The Fort Worth Regional Office of the SEC does not intend to recommend any enforcement action against the company.
On July 1, 2013, the Houston companies voluntarily disclosed the SEC's informal inquiry.
The SEC had requested the preservation of documents and communications that are potentially relevant to, among other things, LinnCo's proposed merger with Berry, and Linn and LinnCo's use of non-GAAP financial measures and hedging strategy.
The companies said they cooperated fully with the SEC during its inquiry.
"After a thorough and lengthy process, we are clearly very pleased with this excellent outcome," said Mark E. Ellis, chairman, president and CEO of Linn, in a statement.
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