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ROCC.US
id: 609

ROCC M&A Deal with BTE Case

  • Ranger Oil announced a merger with Baytex Energy.
  • $ROCC shareholders will own approximately 37% of New Co.
  • Investors suspect that the pricing terms of the $ROCC & $BTE M&A deal are unfair.
on February 28, 2023, Ranger Oil Corporation (NASDAQ: ROCC) announced that it had reached a definitive agreement to merge with Baytex Energy Corp. (TSX, NYSE: BTE) in a transaction involving cash and stock.
  • As per the terms of the agreement, Ranger shareholders will receive a fixed ratio of 7.49 Baytex shares and $13.31 in cash for every Ranger share.
  • After the completion of the transaction, which is expected to close in the second quarter of 2023, Baytex shareholders will own roughly 63% of the merged entity, while Ranger shareholders will own approximately 37%.
Investors of Ranger may have reasons to suspect that the pricing terms of the M&A transaction are unfair and that the Company BoD breached fiduciary duties to shareholders.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Malpractice
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
28 February 2023
Collecting participants…

Ranger Oil Corp

Ranger Oil Corporation, an independent oil and gas company, engages in the onshore development and production of crude oil, natural gas liquids, and natural gas in the United States. It engages in ...

    Ticker
    ROCC.US
    ISIN
    US70788V1026
    CIK
    77159
    Sector
    Energy
    Industry
    Oil & Gas
    Country
    USA
    Address
    16285 Park Ten Place, Houston, TX, United States, 77084