More law firms announce investigations/legal actionBTE shareholders want to punch a gift horse in the mouth for some reason, but Ranger owners are upset and giving away their golden high growth light oil assets. This is a highly accretive deal at very attractive acquisition metrics. Why say no to free money?
There are now several law firms "investigating" on behalf of Ranger shareholders. This may cause a problem as there are obviously a large contingent of Ranger shareholders who are looking to scuttle the deal. Juniper owns more than 50% and supports the deal, so the law firms are going to have to be creative possible invoking nationalistic rules and protectionism...after all it's a Canadian domiciled company taking precious US oil assets under its wing.
https://www.globenewswire.com/news-release/2023/02/28/2617433/0/en/ROCC-Alert-Monsey-Firm-of-Wohl-Fruchter-LLP-Investigating-Acquisition-of-Ranger-Oil-Corporation-by-Baytex-Energy.html
https://www.businesswire.com/news/home/20230228005909/en/ROCC-Stock-Alert-Halper-Sadeh-LLC-Is-Investigating-Whether-the-Sale-of-Ranger-Oil-Corporation-Is-Fair-to-Shareholders