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Aurora Shareholders Approve Baytex Buyout

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May 22, 2014

Aurora Oil & Gas Ltd.'s (ASX: AUT.AX, TO: AEF.TO) shareholders overwhelmingly approved selling the Eagle Ford-focused company to Baytex Energy Corp. (NYSE: BTE, TO: BTE.TO), the companies said May 21.

About 88% of Aurora shareholders said yes to selling to Baytex about a week after the company increased its offer for Aurora by $43 million cash, or 2.4%. Aurora’s total price tag, including debt, is about $2.35 billion.

Australia’s Aurora has developed the Eagle Ford’s Sugarkane Field, which is 97% held by production. The company holds 22,100 largely contiguous net ...


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