** Canadian oil & gas producer’s shares down ~10 pct at C$4.57
** Company to buy rival Raging River Exploration Inc for about C$2.8 bln ($2.12 bln)
** Baytex’s offer represents a 10.4 percent premium to Raging River’s Friday close, according to Reuters calculations.
** RRX down more than 6 pct at C$5.90
** Up to Friday’s close, BTE is up ~20 pct YTD, RRX down ~26 pct ($1 = C$1.3192) (Reporting by Parikshit Mishra in Bengaluru)