LINN Energy unitholders offered LinnCo shares for tax purposes

By Angela McDaniels

Tacoma, Wash., March 22 – LinnCo, LLC began an offer to exchange each outstanding unit of LINN Energy, LLC for one LinnCo share, according to a company news release.

The exchange offer will expire at midnight ET on April 18.

The company said the purpose of the exchange offer is to permit holders of LINN Energy units to maintain their economic interest in LINN Energy through LinnCo, an entity that is taxed as a corporation rather than a partnership, which may allow LINN Energy unitholders to avoid future allocations of taxable income and loss, including cancellation of debt income, that could result from future debt restructurings or other strategic transactions by LINN Energy.

The information agent is D.F. King & Co., Inc. (877 297-1738).

LINN Energy is an oil and gas company. LinnCo, through its limited liability company interests in LINN Energy, focuses on the acquisition and development of oil and natural gas properties. Both are based in Houston.

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