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CRC to Buy Berry Corp, Doubling Down on Kern County Scale
Yahoo Finance·2025-09-22 12:43

California Resources Corp. (CRC) is set to get bigger again. The Long Beach-based producer, which bought Aera Energy last year to become California’s largest oil operator, plans to acquire Dallas-based Berry Corp. in an all-stock deal valued at $717 million. Berry shareholders would receive 0.0718 CRC shares for each BRY share, a 15% premium to the Sept. 12 close. Boards on both sides approved the merger. It still needs Berry shareholder and regulatory approvals and could close in the first quarter of 2026 ...