<?php
$str = <<< EOF
<code><div class="b-line"></div>
poo
<lol>
n
</code>
EOF;
echo $str;
echo "\n-------------\n";
echo preg_replace(',(?|(<code><div class="b-line"></div>)\s+|\s+(</code>)),', '$1', $str); ?>
PD9waHAKJHN0ciA9IDw8PCBFT0YKPGNvZGU+PGRpdiBjbGFzcz0iYi1saW5lIj48L2Rpdj4KCgoKCiAgICAgIHBvbwogIDxsb2w+CiAgIG4KCiAgPC9jb2RlPiAgICAgIApFT0Y7CgplY2hvICRzdHI7CmVjaG8gIlxuLS0tLS0tLS0tLS0tLVxuIjsKZWNobyBwcmVnX3JlcGxhY2UoJywoP3woPGNvZGU+PGRpdiBjbGFzcz0iYi1saW5lIj48L2Rpdj4pXHMrfFxzKyg8L2NvZGU+KSksJywgJyQxJywgJHN0cik7Cj8+