California Resources, Energy Company Berry To Merge In An All-Stock Deal

The companies said that under the terms of the merger agreement, existing CRC shareholders are expected to own about 94% of the combined company upon closing.

California Resources Corp (CRC) and Berry Corp (BRY) announced on Monday that they have agreed to combine in an all-stock transaction valuing Berry at about $717 million, inclusive of its net debt.

The companies said that under the terms of the merger agreement, existing CRC shareholders are expected to own about 94% of the combined company upon closing.

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