Berry Corporation Inks Definitive Agreement To Acquire Macpherson Energy, A Privately Held Kern County, California Operator, For $70M In Cash
Portfolio Pulse from Benzinga Newsdesk
Berry Corporation has signed a definitive agreement to acquire Macpherson Energy, a privately held Kern County, California operator, for $70M in cash. The transaction is structured such that $50 million will be paid at closing and the remainder paid in July 2024. The acquisition is expected to close in the third quarter of 2023.
July 17, 2023 | 8:20 pm
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Berry Corporation's acquisition of Macpherson Energy could potentially strengthen its position in the market. The transaction is expected to close in Q3 2023.
Acquisitions often lead to an increase in market share and potential growth in revenues. Given that Berry Corporation is acquiring Macpherson Energy, this could potentially strengthen its position in the market. However, the impact on the stock price will depend on how well the acquisition is received by the market and how it fits into Berry Corporation's overall strategy.
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