August 22, 2018 / 3:35 PM / 3 months ago

BUZZ-Baytex Energy, Raging River gain on shareholder nod for merger deal

** Shares of Canadian oil and gas producer Baytex Energy rise 4.9 pct

** Co gets shareholder approval for its planned deal to buy rival Raging River Exploration for C$2.8 bln ($2.13 bln)

** Raging River shares up 5.3 pct, extending a 3-day run; Baytex’s U.S.-listed shares gain 4 pct, rising for the 5th straight session

** BTE said it would buy RRX in June, becoming yet another company to bet big on Canada’s vast shale reserves

** RRX’s market cap is about C$1.2 bln, per TR data

** Including session gains, BTE’s Canadian shares up 5.6 pct this year while RRX tumbles 32 pct (Reporting by Medha Singh in Bengaluru)

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