Aurora shareholders approve Baytex bid

Oil and gas explorer's shareholders vote in favour of sweetened takeover offer.

Aurora Oil and Gas shareholders have backed a takeover offer from Canadian oil and gas company Baytex Energy Corp.

At a meeting today, the requisite majority of Aurora shareholders approved the sweetened deal, with 88 per cent of votes cast in favour, the target said.

Baytex last week lifted its bid to $4.20 per share, compared with a previous offer of $4.10 per share.

The fresh offer implies a total value of $1.88 billion.