California Resources to Acquire Berry Corporation for $717 Million

California Resources Corporation (CRC) has acquired Berry Corporation (BRY) for approximately $320 million, with the transaction valuing Berry at $717 million. CRC shareholders will own about 94% of the combined company. The merger is expected to enhance CRC's scale and create operating and cost synergies. The deal is subject to regulatory approval and shareholder approval from Berry Corporation. The transaction is expected to complete by March 14, 2026.