Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Baytex Energy Ups Aurora Offer
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Baytex Energy Corp. announces that it is increasing the consideration payable for Aurora Oil & Gas Limited ("Aurora") to A$4.20 (Australian dollars) per share (from A$4.10 per share). In addition, Baytex announces that Harbour Advisors (a business unit of CI Investments Inc.) and Stirling Global Value Fund Inc., together holding approximately 17.4 percent of the issued and outstanding Aurora shares, have stated they intend to vote their Aurora shares in favour of the scheme of arrangement (the "Arrangement") in the absence of a superior proposal.
Baytex will work with Aurora to amend the Scheme Implementation Deed to reflect the increased offer price. The board of directors of Baytex have unanimously approved the revised offer. The meeting of Aurora shareholders to approve the Arrangement…
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