10:00 AM EST - Ember Resources Inc. : said Friday that it agreed to buy Cordero Energy Inc. for $5.50 per Cordero share. As per an arrangement agreement between the companies, the amount will be paid in cash or 2.683 shares of Ember. The agreement, which requires Cordero shareholders approval, also states that Ember can pay a maximum aggregate of $70 million and a minimum aggregate of $55 million in cash of the total purchase price. Ember Resources Inc.
shares T.EBR are trading up 9 cents at $1.80.
