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Bullboard - Stock Discussion Forum Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Energy Oil & Gas E&P
Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay... see more

TSX:BTE - Post Discussion

Baytex Energy Corp > Buyout?
View:
Post by ManitobaCanuck on Oct 21, 2021 1:19am

Buyout?

Saw this on Yahoo Finace CVE forum 
 " $5B prospectus filed by Cenovus with SEDAR on Oct 7 2021? At 14.50 (assumed today’s price) it proposes a dilution of approx 345M shares, but I believe this is likely for an acquisition of some sort - just wondering what CVE is looking to buy."
What is the target if this is true? 
Comment by clamlinguine on Oct 21, 2021 1:33am
Meg is always rumoured.
Comment by GrumpyMonk on Oct 21, 2021 4:05am
That was my first feeling that CVE would be a contender to buy Baytex. But why Baytex would sell. They are doing just fine.
Comment by Maxmoe on Oct 21, 2021 11:57am
It's just a "shelf prospectus" which issuers use to qualify for  a "quick" financing, usually in the USA vs an IPO level filing they'd have to do otherwise. It's "housekeeping" more so than indicative of a pending takeover, though that's possible. Far more likely, this was filed to qualify new debt financings. CVE has a giant balance sheet ,after ...more  
Baytex Energy Corp