Australia's Aurora surges on Baytex takeover

SYDNEY Thu Feb 6, 2014 7:07pm EST

SYDNEY Feb 7 (Reuters) - Shares in Australia's Aurora Oil & Gas Ltd jumped by more than half on Friday after the company agreed to a takeover by Canada's Baytex Energy Corp worth $2.4 billion, including debt.

Baytex will pay A$4.10 for each share of the Perth, Australia-based oil producer, a 52 percent premium to its average price in the past week, valuing the company at A$1.84 billion ($1.65 billion).

Shares in Aurora hit a high of A$4.09 and last traded up 55 percent at A$4.06. (Reporting by Lincoln Feast; Editing by Paul Tait)