Brief: Ranger Oil Enters Into Definitive Merger Agreement With Baytex Energy

Baytex Energy

28/02/2023 13:09

Feb 28 (Reuters) - Ranger Oil Corp  ROCC.O :
    * RANGER OIL ENTERS INTO DEFINITIVE MERGER AGREEMENT WITH
BAYTEX
ENERGY
    * RANGER OIL CORP - RANGER SHAREHOLDERS TO RECEIVE $13.31 OF
CASH
AND 7.49 SHARES OF BAYTEX PER RANGER SHARE
    * RANGER OIL CORP - BAYTEX SHAREHOLDERS WILL OWN
APPROXIMATELY 63%
OF THE COMBINED COMPANY
    * RANGER OIL CORP - PRO FORMA COMPANY WILL TRADE ON BOTH THE
NYSE
AND TSX
    * RANGER OIL -  IF DEAL TERMINATED IN SOME CIRCUMSTANCES, CO
OR
BAYTEX ENERGY TO PAY OTHER PARTY TERMINATION FEE OF $60 MILLION
AND $95 MILLION, RESPECTIVELY

Further company coverage:  ROCC.O 

 ((Reuters.Briefs@thomsonreuters.com;))