California Resources, which is set to take over rival oil driller Berry, stands to benefit from state legislation that would make it easier to drill https://t.co/WUovs5X7Gu ...

Group 1 - California Resources is acquiring Berry Corp in an all-stock deal valued at approximately $717 million, including debt [1] - The acquisition reflects California Resources' strategy to expand its portfolio in the oil production sector [1] - The deal signifies a consolidation trend within the U.S. energy industry, particularly among smaller oil producers [1] Group 2 - The transaction highlights the ongoing interest in mergers and acquisitions as companies seek to enhance operational efficiencies and market presence [1] - The valuation of Berry Corp at $717 million indicates a significant investment in the current energy market [1] - This acquisition may lead to potential synergies and cost savings for California Resources, enhancing its competitive position [1]

We're about 2 minutes away from the end of the trading day. Scarlet Fu and Vonnie Quinn here with you and here to help take you through the closing bell. We've got a global simulcast.Tim Sandvik joins us as well as Israeli lee. We bring together our Bloomberg Television, radio and you tube audiences worldwide as we pass through the most crucial moments of the trading day. And Tim, it doesn't look like a whole lot is going on when you look at the closing numbers here in the S&P 500, little change, but it's b ...