- Raging River agreed to merge with Baytex for a small premium. After today’s selloff, the market is saying both are better at it alone.
- Raging River is worth somewhere between C$7.25 and C$10.00 per share.
- Baytex was trading at C$5.10 last Friday, which would value Raging River at C$6.94 per share, which is in the low end of the price range above.
- Investing in Raging River is now like investing in Baytex: It’s a leveraged play to future oil prices.
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