Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Mergers & acquisitions

February 21, 2013: 10:10 AM ET

Linn Energy LLC (Nasdaq: LINE) has agreed to acquire Berry Petroleum Co. (NYSE: BRY) in an all-stock deal valued at $4.3 billion. The $46.24 per share price represents a 19.8% premium to yesterday's closing price for Berry Petroleum stock. www.linnenergy.com

The New York Times Co. confirmed yesterday that it is seeking a buyer for The Boston Globe and affiliated assets, including the Worcester Telegram & Gazette. It last put the Globe up for sale in 2009, but was unable to fund a buyer at its desired price (partially due to pension obligations).www.boston.com/globe

Forstmann Little & Co. is planning to put sports and modeling talent agency IMG on the block, according to Reuters. The deal could be worth more than $2 billion. www.img.com

Kohlberg Kravis Roberts & Co.
 is in talks to sell its 51% stake in BMG Rights to joint venture partnerBertelsmann, which currently holds the remaining 49% position, according to the NY Post. www.kkr.com

TPG Capital has sold around half of its 20% stake in listed Indian commercial vehicle finance companyShriram Transport Finance Co Ltd. for $305 million, according to Reuters. www.stfc.in

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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