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ROCC.US
id: 609, Created by Stan Vick, Scout
ROCC M&A Deal with BTE Case
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
- 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